1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Degger [83]
2 years ago
12

New legislation passed in 2017 by the U.S. Congress changed tax laws that affect how many people file their taxes in 2018 and be

yond. These tax law changes will likely lead many people to seek tax advice from their accountants (The New York Times). Backen and Hayes LLC is an accounting firm in New York state. The accounting firms believe that it may have to hire additional accountants to assist with the increased demand in tax advice for the upcoming tax season. Backen and Hayes LLC has developed the following probability distribution for x= number of new clients seeking tax advice.x f(x)20 .0525 .2030 .2535 .1540 .1545 .1050 .10a. Is this a valid probability distribution? Explain.b. What is the probability that Backens and Hayes LLC will obtain 40 or more new clients?c. What is the probability that Backens and Hayes LLC will obtain fewer than 35 new clients?d. Compute the expected value, variance, and standard deviation of x.
Mathematics
1 answer:
stiks02 [169]2 years ago
3 0

Answer:

a. Yes

b. 0.35

c. 0.5

d.

E(x)=34.25

V(x)=73.1875

SD(x)=8.555

Step-by-step explanation:

a.

x      20   25   30      35   40  45 50

f(x) 0.05 0.2 0.25  0.15  0.15 0.1 0.1

This will be valid probability distribution if

1. All probabilities are between 0 and 1 inclusive.

2. Sum of probabilities must be 1.

Condition 1 is satisfied in this distribution. Now, we will check second condition

sum(f(x))=0.05+0.2+0.25+0.15+0.15+0.1+0.1=1.

As the both conditions are satisfied, thus the given distribution is a valid probability distribution.

b.

P(x≥40)=P(X=40)+P(X=45)+P(X=50)

P(x≥40)=0.15+0.1+0.1

P(x≥40)=0.35

So, the probability that Backens and Hayes LLC will obtain 40 or more new clients is 0.35.

c.

P(x<35)=P(X=20)+P(X=25)+P(X=30)

P(x<35)=0.05+0.2+0.25

P(x<35)=0.5

So, the probability that Backens and Hayes LLC will obtain fewer than 35 new clients is 0.5.

d.

Expected value of x=E(x)= sum[x*f(x)]

E(x)= 20*0.05+25*0.2+30*0.25+35*0.15+40*0.15+45*0.1+50*0.1

E(x)=1+5+7.5+5.25+6+4.5+5

E(x)=34.25

Variance of x=V(x)=sum[x²*f(x)]-(sum[x*f(x)])²

sum[x²*f(x)]= 20²*0.05 +25²*0.2 +30²*0.25 +35²*0.15 +40²*0.15 +45²*0.1 +50²*0.1

sum[x²*f(x)]=20+1255+225+183.75+240+202.5+50

sum[x²*f(x)]=1246.25

V(x)=1246.25-(34.25)²

V(x)=73.1875

Standard deviation of x=SD(x)=√V(x)

SD(x)=8.555

You might be interested in
What is angle e? If 35 degrees and angle b equal 90.
vampirchik [111]
Angle e is 90 degrees
4 0
3 years ago
Ana can finish a certain job in 10 hours. Together, Ana and Nina can finish the same job in 3 hours. How many hours can Nina fin
Over [174]

Answer:   4.5 hours

<u>Step-by-step explanation:</u>

Ana: \dfrac{1}{10}\ \text{job per hour}\\\\Nina: \dfrac{1}{x}\ \text{job per hour}\\\\Together: \dfrac{1}{3}\ \text{job per hour}\\\\\\Ana + Nina = Together\\\dfrac{1}{10}\quad +\dfrac{1}{x}\quad =\quad \dfrac{1}{3}\\\\\\\dfrac{1}{10}(30x)+\dfrac{1}{x}(30x) =\dfrac{1}{3}(30x)\\\\\\\rightarrow\quad 3x+30=10x\\\\.\quad 3x+30=10x\\\underline{-3x\qquad \quad -3x\quad}\\.\qquad \quad 30=7x\\\\.\qquad \quad \dfrac{30}{7}=\dfrac{7x}{7}\\\\\\.\qquad \quad \dfrac{30}{7}=x

.\qquad \quad 4.5=x

5 0
2 years ago
I don’t get how to answer 8x + 4 - x/2
lisabon 2012 [21]

Answer:

its 6x


Step-by-step explanation:


4 0
3 years ago
Quadrilateral ABCD has the following
a_sh-v [17]

Answer:

No because the angle of point C is NOT congruent to the angle of point A.

Step-by-step explanation:

A quadrilateral MUST be a parallelogram if it has both pairs of its opposite angles congruent.

4 0
2 years ago
Tasha invests $5,000 annually at 6% and an additional $5,000 annually at 8%. Thomas invests $10,000 annually at 7%. Which statem
Setler79 [48]

Answer:

B is correct.

Step-by-step explanation:

Compound Interest Formula:

V(t)=P(1+\frac{r}{n})^{nt}

Tasha invests in two ways

Case 1:

  • Principal P=$5,000
  • Rate of Interest r=0.06
  • Time t=t
  • n=1

V(t)=5000(1+0.06)^t

V(t)=5000(1.06)^t

Case 2:

  • Principal P=$5,000
  • Rate of Interest r=0.08
  • Time t=1
  • n=1

V(t)=5000(1+0.08)^t

V(t)=5000(1.08)^t

Total amount yield by Tasha = 5000[(1.06)^t+(1.08)^t]

Thomas Investment

  • Principal P=$10,000
  • Rate r= 0.07
  • t=t
  • n=1

Total amount yield by Thomas = 10000(1.07)^t

Now we make table for Tasha and Thomas different value of t

    t                  Tasha                  Thomas

   1                  $10,700                 $10,700  

   2                 $11,450                  $11,449

   3                 $12,254                 $12,250

   4                 $13,115                  $13,108

In table we can see Tasha investment will yield more from Thomas.

Thus, Tasha’s investment will yield more over many years because the amount invested at 8% causes the overall total to increase faster.

8 0
2 years ago
Read 2 more answers
Other questions:
  • There are 2 orange picks for every 5 picks if there are 21 picks in total how many picks are orange
    15·1 answer
  • in a certain chemical the ratio of zinc to Cooper is 4 to 19 A jar of the chemical contains 760 grams of cooper how many grams o
    15·1 answer
  • pears cost $0.92 per pound and apples cost a dollar $ 1.10 per pound mr.bonilla bought 3.75 pounds of pears and 2.1 pounds of ap
    11·2 answers
  • What is the answers to number 10?
    13·1 answer
  • Jeff has already prepared 6 kilograms of dough and will continue preparing 1 kilogram of
    14·2 answers
  • Kelly rolls two number cubes. Determine the probability of each of the following events.
    7·1 answer
  • henry rented a truck for one day. there was a base Fee of $18.95, and there was an additional charge of $.79 for each mile drive
    6·1 answer
  •  Please help me with this/ will give brainlist
    9·1 answer
  • Please answer the question with the right answer its my last chance to get it right... I will mark you brainliest and rate you f
    6·1 answer
  • Graph 4x + y = 6x - 1<br> Show your work and explain the method used to determine the graph.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!