Assume that 30 in every 1000 people in the $34,000 - $82,400 income bracket are audited yearly. Assuming that the returns to be
audited are selected at random and each year's selections are independent of the previous year's selections, determine the probability that a person in this income bracket will be audited this year.
The probability that a person in this income bracket will be audited this year is of 3%.
<h3>What is a probability?</h3>
A probability is given by the <u>number of desired outcomes divided by the number of total outcomes</u>.
In this problem, we have that 30 out of 1000 people are audited, hence the probability that a person in this income bracket will be audited this year is given by:
