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Suppose that income follows a normal distribution with population mean u = $48,000 and population standard deviation cr = $8,000. The government wants to provide
Suppose that income follows a normal distribution with population mean u = $48,000 and population standard deviation cr = $8,000. The government wants to provide free education to all people falling below a lower income level but only want 2.5% (or 0.0250) to qualify for this assistance. What should be the value of this income cutoff? Show your work
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