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Vaselesa [24]
1 year ago
6

What type of scheme is being used when an individual is asked to make an upfront payment in order to gain access to a larger amo

unt of money?.
Business
1 answer:
Simora [160]1 year ago
7 0

An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value.

What do you mean by Advance fee payment?

Advance fee payment is the money that you pay to a person or company before receiving something such as a loan or investment.It can be in the form of taxes or lottery.

A business is only to keep the payments you've made in advance or ask you to pay a cancellation charge if it's fair .

Hence , An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value.

To know more about Advance Payment from the given link

brainly.com/question/12021890

#SPJ4

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Explanation:

Previous concepts

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Let X the random variable that represent the expected return, and for this case we know the distribution for X is given by:

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And the best way to solve this problem is using the normal standard distribution and the z score given by:

z=\frac{x-\mu}{\sigma}

If we apply this formula to our probability we got this:

P(X

And we can find this probability using the normal standard distribution table or excel and we got:

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