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Deepeash Dev
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$6,000 worth of buyer surplus and $4,000 of seller surplus.
You have to do a reverse lookup on a standard distribution table to find the answers. Or, if you have excel, use the NORMSINV function. 1. P(X≤z) = 0.052 z = -1.626 in Excel, the cell for your result has the formula =NORMSINV(0.052). easy. Or you can
