Step-by-step explanation:
Alrighty! here you go image.
John and Mary Billings on a condominium with assess value of $110,000. If the tax rate is 25 mills per $1.00 of assessed valuati
1 answer:
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Answer:
95% confidence interval for the mean time required to earn a bachelor’s degree by all college students is [5.10 years , 5.20 years].
Step-by-step explanation:
We are given that the National Center for Education Statistics surveyed a random sample of 4400 college graduates about the lengths of time required to earn their bachelor’s degrees. The mean was 5.15 years and the standard deviation was 1.68 years respectively.
Firstly, the pivotal quantity for 95% confidence interval for the population mean is given by;
P.Q. = ~ N(0,1)
where, = sample mean time = 5.15 years
= sample standard deviation = 1.68 years
n = sample of college graduates = 4400
= population mean time
<em>Here for constructing 95% confidence interval we have used One-sample z test statistics although we are given sample standard deviation because the sample size is very large so at large sample values t distribution also follows normal.</em>
<u>So, 95% confidence interval for the population mean, </u><u> is ;</u>
P(-1.96 < N(0,1) < 1.96) = 0.95 {As the critical value of z at 2.5%
level of significance are -1.96 & 1.96}
P(-1.96 < < 1.96) = 0.95
P( <
<
) = 0.95
P( <
<
) = 0.95
<u>95% confidence interval for</u> = [
,
]
= [ ,
]
= [5.10 , 5.20]
Therefore, 95% confidence interval for the mean time required to earn a bachelor’s degree by all college students is [5.10 years , 5.20 years].
Answer:
(A) The odds that the taxpayer will be audited is approximately 0.015.
(B) The odds against these taxpayer being audited is approximately 65.67.
Step-by-step explanation:
The complete question is:
Suppose the probability of an IRS audit is 1.5 percent for U.S. taxpayers who file form 1040 and who earned $100,000 or more.
A. What are the odds that the taxpayer will be audited?
B. What are the odds against such tax payer being audited?
Solution:
The proportion of U.S. taxpayers who were audited is:
P (A) = 0.015
Then the proportion of U.S. taxpayers who were not audited will be:
P (A') = 1 - P (A)
= 1 - 0.015
= 0.985
(A)
Compute the odds that the taxpayer will be audited as follows:
Thus, the odds that the taxpayer will be audited is approximately 0.015.
(B)
Compute the odds against these taxpayer being audited as follows:
Thus, the odds against these taxpayer being audited is approximately 65.67.