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. Suppose a certain country has a fat-rate tax system, where everyone is ta.xod the same...
2. Suppose that a tax system is set up as follows: Everyone gets to subtract $3,000...
2. Suppose that a tax system is set up as follows: Everyone gets to subtract $3,000 from their income and then pays the government 20 percent of the rest. Is this tax proportional, progressive, or regressive? Show your reasoning. (Hint: Calculate what households with incomes of $10,000 per year, $50,000 per year, and $100,000 per year would pay in taxes and what percentage of their total income their taxes represent.)
2. Suppose that tax paid by a certain person per year is denoted T, and is...
2. Suppose that tax paid by a certain person per year is denoted T, and is calculated using the following relationship to that persons gross income (Gi): T, 0.25(G - 10000) (i.e, only people who have an income over $10,000 per year are taxed, and only the income beyond $10,000). You are told that the total gross income for an area with 200 people is $6,000,000. Assume that all the people measured make over $10,000 a year. (a) Find the...
The currency in a certain country is called the sirktian. In this country's tax system, a...
The currency in a certain country is called the sirktian. In this country's tax system, a person pays O sirktions on the first 26,700 sians eamed. They then pay a fiat tax of 27% on everything over 26,700 sirians. This information is summarized in the following tax table Income in sirktians) Tax Rate 0-26,700 Over 26,700 27% 2. How many sins in taxes are owed for an individualeaming 28,500 siriana? The individual carving 28,500 sirktians owes siktians in taxes. b....
12 Suppose the mean IQ score of people in a certain country is 105. Suppose the...
12 Suppose the mean IQ score of people in a certain country is 105. Suppose the director of a college obtains a simple random sample of 40 students from that country and finds the mean IQ is 105 2 with a standard deviation of 13.7. Test the claim that the mean IQ score of people is more than 105 at the a = 0.05 level of significance. a. Write both null and alternative. Indicate the tail. b. Find test statistics...
A certain country is reported to have among the highest percentage of citizens aged 60 years...
A certain country is reported to have among the highest percentage of citizens aged 60 years and over, at approximately 27.0 % (.e. 27.0 % of its population falls within this age category). If 50 individuals are randomly selected from the population, and X is the number of individuals out of 50 that are 60 or more years old, find the following statistics. a) What is the mean of X? Round your answer to at least 3 decimal places Number...
In the year 2000, the population of a certain country was 276 million with an estimated growth rate of 0.5% per year a. Based on these figures, find the doubling time and project the population in 21...
In the year 2000, the population of a certain country was 276 million with an estimated growth rate of 0.5% per year a. Based on these figures, find the doubling time and project the population in 2120 b Suppose the actual growth rates are ust 0.2 percentage points lower and higher than 0.5% per year 0.3% and 0.7%). What are the resulting doubling times and projected 2120 population? a. Let y(t) be the population of the country, in millions, t...
2. Xuan-Thuc is a taxpayer in a country with a flat tax rate of t. Her income for the current yea...
2. Xuan-Thuc is a taxpayer in a country with a flat tax rate of t. Her income for the current year is $1000. Therefore, if she declares her full income she will pay $1000t in tax, leaving her with $1000 (1- t) in post-tax income. If she chooses to declare less than her full income her fraud will be discovered if and only if she is audited by the tax authority, which happens with probability p. If an audit discovers...
2. Xuan-Thuc is a taxpayer in a country with a flat tax rate of t. Her income for the current yea...
2. Xuan-Thuc is a taxpayer in a country with a flat tax rate of t. Her income for the current year is $1000. Therefore, if she declares her full income she will pay $1000t in tax, leaving her with $1000 (1- t) in post-tax income. If she chooses to declare less than her full income her fraud will be discovered if and only if she is audited by the tax authority, which happens with probability p. If an audit discovers...
13. +-6.66 points WaneFMAC7 9.5.033. My Notes IQ scores (as measured by the Stanford-Binet intelligence test) in a certain country are normally distributed with a mean of 100 and a standard deviation...
13. +-6.66 points WaneFMAC7 9.5.033. My Notes IQ scores (as measured by the Stanford-Binet intelligence test) in a certain country are normally distributed with a mean of 100 and a standard deviation of 11. Find the approximate number of people in the country (assuming a total population of 323,000,000) with an IQ higher than 120. (Round your answer to the nearest hundred thousand.) people 14. 0/6.66 points | Previous Answers My Notes This exercise uses the normal probability density function...
Suppose that an accounting firm does a study to determine the time needed to complete one person's tax forms. It randomly surveys 200 people. The sample average is 23.7 hours. There is a known population standard deviation of 6.0 hours. The population dis
DETAILSIDCOLLABSTAT2 8.HW.006.MY NOTESASK YOUR TEACHERPRACTICE ANOTHERSuppose that an accounting firm does a study to determine the time needed to complete one person's tax forms. It randomly surveys 200 people. The sample average is 23.7 hours. There is a known population standard deviation of 6.0 hours. The population distribution is assumed to be normal.NOTE: If you are using a Student's t-distribution, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.)Part (a)(i) x = (ii) 𝜎 = (iii) 𝜎 x = (rounded to three decimal places)(iv) n = (v) n − 1 = Part (b)Part (c)Which...
2. Suppose that a tax system is set up as follows: Everyone gets to subtract $3,000 from their income and then pays the government 20 percent of the rest. Is this tax proportional, progressive, or regressive? Show your reasoning. (Hint: Calculate what households with incomes of $10,000 per year, $50,000 per year, and $100,000 per year would pay in taxes and what percentage of their total income their taxes represent.)
2. Suppose that tax paid by a certain person per year is denoted T, and is calculated using the following relationship to that persons gross income (Gi): T, 0.25(G - 10000) (i.e, only people who have an income over $10,000 per year are taxed, and only the income beyond $10,000). You are told that the total gross income for an area with 200 people is $6,000,000. Assume that all the people measured make over $10,000 a year. (a) Find the...
The currency in a certain country is called the sirktian. In this country's tax system, a person pays O sirktions on the first 26,700 sians eamed. They then pay a fiat tax of 27% on everything over 26,700 sirians. This information is summarized in the following tax table Income in sirktians) Tax Rate 0-26,700 Over 26,700 27% 2. How many sins in taxes are owed for an individualeaming 28,500 siriana? The individual carving 28,500 sirktians owes siktians in taxes. b....
12 Suppose the mean IQ score of people in a certain country is 105. Suppose the director of a college obtains a simple random sample of 40 students from that country and finds the mean IQ is 105 2 with a standard deviation of 13.7. Test the claim that the mean IQ score of people is more than 105 at the a = 0.05 level of significance. a. Write both null and alternative. Indicate the tail. b. Find test statistics...
A certain country is reported to have among the highest percentage of citizens aged 60 years and over, at approximately 27.0 % (.e. 27.0 % of its population falls within this age category). If 50 individuals are randomly selected from the population, and X is the number of individuals out of 50 that are 60 or more years old, find the following statistics. a) What is the mean of X? Round your answer to at least 3 decimal places Number...
In the year 2000, the population of a certain country was 276 million with an estimated growth rate of 0.5% per year a. Based on these figures, find the doubling time and project the population in 2120 b Suppose the actual growth rates are ust 0.2 percentage points lower and higher than 0.5% per year 0.3% and 0.7%). What are the resulting doubling times and projected 2120 population? a. Let y(t) be the population of the country, in millions, t...
2. Xuan-Thuc is a taxpayer in a country with a flat tax rate of t. Her income for the current year is $1000. Therefore, if she declares her full income she will pay $1000t in tax, leaving her with $1000 (1- t) in post-tax income. If she chooses to declare less than her full income her fraud will be discovered if and only if she is audited by the tax authority, which happens with probability p. If an audit discovers...
2. Xuan-Thuc is a taxpayer in a country with a flat tax rate of t. Her income for the current year is $1000. Therefore, if she declares her full income she will pay $1000t in tax, leaving her with $1000 (1- t) in post-tax income. If she chooses to declare less than her full income her fraud will be discovered if and only if she is audited by the tax authority, which happens with probability p. If an audit discovers...
13. +-6.66 points WaneFMAC7 9.5.033. My Notes IQ scores (as measured by the Stanford-Binet intelligence test) in a certain country are normally distributed with a mean of 100 and a standard deviation of 11. Find the approximate number of people in the country (assuming a total population of 323,000,000) with an IQ higher than 120. (Round your answer to the nearest hundred thousand.) people 14. 0/6.66 points | Previous Answers My Notes This exercise uses the normal probability density function...
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