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Q.17. Lynn Price recently completed her MBA and accepted a job with an electronics manufacturing company. Although she lilkes her job, she is also looking

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Q.17. Lynn Price recently completed her MBA and accepted a job with an electronics manufacturing company. Although she lilkes her job, she is also looking forward to retiring one day. To ensure that her retirement is comfortable, she intends to invest $3,000 of her salary into a tax-sheltered retirement fund at the end of each year. Lynn is not certain what rate of return this investment will earn each year, but she expects each year's rate of return could be modeled appropriately as a normally distributed random variable with a mean of 12.5% and standard deviation of 2%. a. If Lynn is 30 years old now, how much money should she expect to have in her retirement fund at age 60? b. Construct a 95% confidence interval for the average amount Lynn will have at age 60. c. What is the probability that Lynn will have more than $1 million in her retirement fund when she reaches age 60

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