The chances of a tax return being audited are about 18 in 1,000 if an income...
The chances of a tax return being audited are about 22 in 1,000 if an income is less than$100,000 and 31 in 1,000 if an income is $100,000 or more. Complete parts a through e. a. What is the probability that a taxpayer with income less than $100,000 will be audited? With income of $100,000 or more? P(taxpayer with income less than $100,000 is audited)=_____________(Type an integer or a decimal.) What is the probability that a taxpayer with income of...
The chances of a tax return being audited are about 22 in1,000 if an income is less than$100,000 and 31 in 1,000 if an income is $100,000 or more. Complete parts a through e. a. What is the probability that a taxpayer with income less than $100,000 will be audited? With income of $100,000 or more? P(taxpayer with income less than $100,000 is audited)=_______________(Type an integer or a decimal.) What is the probability that a taxpayer with income of $100,000...
According to the Internal Revenue Service (IRS), the chances of your tax return being audited are about 6 in 1,000 if your income is less than $50,000; 10 in 1,000 if your income is between $50,000 and $99,999; and 49 in 1,000 if your income is $100,000 or more (Statistical Abstract of the United States: 1995). If two taxpayers with incomes under $50,000 are randomly selected and two with incomes more than $100,000 are randomly selected, what is the probability...
the chance of an IRS audit for a tax return with over 25000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 20 yea period. assume each year is independent. Let X = the number of audits in a 20 year period. A) how many audits are expected in a 20 year period ? B) Find the probability that a person is not audited at...
Question 5 2 pts 5. For the fiscal year 2007, a tax authority audited 15.2% of individual tax returns with income of $100,000 or more. Suppose this percentage stays the same for the current tax year. What is the probability that two randomly selected returns with an income of $100,000 or more will be audited? 0.304 0.02 O 0.318 0.04
The number of chocolate chips in an 18-ounce bag of chocolate chip cookies is approximately normally distributed with mean 1252 and standard deviation 129 chips. (a) What is the probability that a randomly selected bag contains between 1100 and 1500 chocolate chips? (b) What is the probability that a randomly selected bag contains fewer than 1000 chocolate chips? (c) What proportion of bags contains more than 1175 chocolate chips? (d) What is the percentile rank of a bag that contains...
the Ark company had an income of $2 million last year suppose the main income of farms in the same industry as art for a year is $40 million with a standard deviation of $17 million. if incomes for the industry are distributed normally what is the probability that a randomly selected firm will earn more than our did last year round your answer to four decimal places
A population is normally distributed with μ = 200 and σ = 20. a. Find the probability that a value randomly selected from this population will have a value greater than 250. P(x > 250) = ______ . (Round to four decimal places as needed.) b. Find the probability that a value randomly selected from this population will have a value less than 185. P(x < 185) = ______ . (Round to four decimal places as needed.) c. Find the...
A population is normally distributed with μ = 200 and σ = 20. a. Find the probability that a value randomly selected from this population will have a value greater than 250. P(x > 250) = ______ . (Round to four decimal places as needed.) b. Find the probability that a value randomly selected from this population will have a value less than 185. P(x < 185) = ______ . (Round to four decimal places as needed.) c. Find the...
The number of chocolate chips in an 18-ounce bag of chocolate chip cookies is approximately normally distributed with a mean of 1252 chips and standard deviation 129 chips. (a) What is the probability that a randomly selected bag contains between 1100 and 1500 chocolate chips, inclusive? (b) What is the probability that a randomly selected bag contains fewer than 1025 chocolate chips? (c) What proportion of bags contains more than 1225 chocolate chips? (d) What is the percentile rank of...