C. what is the implied tax (i. e., tax/average income) on the highest quintile?

1 answer:

5 0

<span>The answer is derived from the top quintile LOSS of 101,800 which is due to taxes in other words this is the taxes paid. Therefore, the taxes paid divided by the average income of 170,000 or shown as 101,800/170,000 = .5988 which rounds to .60 or 60% implied tax rate. </span>

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Tomtit [17]

Answer:

r =0.4437

Step-by-step explanation:

We have the follwoing dataset:

X: 20,23,53,4,24,32,35,24,31,23

Y: 30,35,40,38,37,45,50,34,42,32

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The correlation coefficient is a "statistical measure that calculates the strength of the relationship between the relative movements of two variables". It's denoted by r and its always between -1 and 1.

And in order to calculate the correlation coefficient we can use this formula:

$r=\frac{n(\sum xy)-(\sum x)(\sum y)}{\sqrt{[n\sum x^2 -(\sum x)^2][n\sum y^2 -(\sum y)^2]}}$