For a Normal Distribution,what Is the Likelihood (Expressed as a Percentage)that

question 5

Multiple Choice

For a normal distribution,what is the likelihood (expressed as a percentage) that a random variable is within plus and minus two standard deviations of the mean?

• A)68.26%
• B)99.74%
• C)34.13%
• D)95.44%

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Definitions:

Excise Tax

A tax levied on specific goods or services, such as tobacco or gasoline, often imposed to discourage consumption or generate revenue.

Incidence

Refers to the allocation or distribution of the economic impact of a particular tax among various parties.

Buyer

An individual or entity that purchases goods or services for personal use, resale, or production.

Efficiency Loss

The reduction in economic efficiency that occurs typically due to market distortions such as taxes, subsidies, tariffs, or monopolies, leading to an allocation that is not welfare-optimal.