According to the IRS, 2012 tax returns showed an average refund of $2480 with a

Question

According to the IRS, 2012 tax returns showed an average refund of $2480 with a standard deviation of $2105. Assume that 2012 tax return amounts are normally distributed. Based on this information (and information in Questions 7-13), generate excel output in the given space on the Tax sheet in this workbook to answer the following questions. Each orange numerical answer cell below MUST reference Excel output cells in the Tax sheet. uestion 13A he Probability is 0.32 thatrandomly selected 2 dollars T 012 tax return showed between what two mounts equidistant from the me Find the lower endpoint using Excel. Use this lower endpoint snd some moth to find the upper endpoint. Remember the lobe lower: uestion 13B upper:dollars

Explanation / Answer

here as middle 32% values fall 34 and 66 percentile

therefore formual in lower =norm.inv(0.34,2480,2105)=1611.765

upper =lower cell+2*(2480-lower cell) =3348.235

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