Ask question

Ask question

All categories

3 years ago

15

Before paying employee bonuses and state and federal taxes, a company earns profits of $103,000. The company pays employees a bo

nus equal to 5% of after-tax profits. State tax is 5% of profits (after bonuses are paid). Finally, federal tax is 40% of profits (after bonuses and state tax are paid). Calculate the amounts paid in bonuses, state tax and federal tax.

1 answer:

mamaluj [8]3 years ago

4 0

Answer:

The amounts paid in bonuses, state tax and federal tax is $ 2,855, $ 5008 and $ 38,055 respectively.

Step-by-step explanation:

This problem requires us to calculate the amounts paid in bonuses, state tax and federal tax. We can solve this problem with the help of math’s equation given below.

Let x be the amount of bonus than

x = 5% (103,000- x- 5% (103,000-x)- 40%(103,000- x- 5% (103,000-x)))

x = 0.05 (103,000 -x - 5,150 + 0.05x -41,200 + 0.4x + 2,060 - 0.02x)

x = 0.05 (58,710 - 0.57x)

x = 2,935.5 - 0.0285x

x = $ 2,855

State Tax = (103,000 -2,855)*5% = $ 5008

Federal tax = (103,000-2,855- 5,008) * 40% = $ 38,055

You might be interested in

Aubrey can run at a pace of six miles per hour. running at the same rate how many miles can she run in ninety minutes

Eddi Din [679]

Aubrey would be able to run 9 miles in ninety minutes.

90 minutes=1.5 hours

6*1.5=9

Hope this helps

7 0

3 years ago

Lesson 5: Lines and Triangles Geometry A Unit 4: Parallel and Perpendicular Lines

aev [14]

The Triangle Sum Theorem states that the sum of the angles of a triangle equal 180°.
Therefore,
45° + 62° + k = 180
107° + k = 180
k = 73°
The value of k is 73°

3 0

3 years ago

Read 2 more answers

A gardener has 920 feet of fencing to fence in a rectangular garden. One side of the garden is bordered by a river and so it doe

yuradex [85]

Answer:

splitting it evenly among all three sides gives us the greatest area. ( for example if we had to split the number 10 into 2 and find the greatest area, out of all possible ways 5*5 is the greatest). Two sides have to be equal since it's a rectangle.

918/3=306

So we can make the two equal sides 306, and the longer side 308 which makes sure that we have the greatest area.

306 * 308

Step-by-step explanation:

3 0

4 years ago

David went to a concession stand and bought three pretzels and four sodas and paid a total of $17 for them. Shamel went to the s

marissa [1.9K]

Answer:

Sooooooo

Step-by-step explanation:

8 0

3 years ago

2. The time between engine failures for a 2-1/2-ton truck used by the military is

OLEGan [10]

Answer:

A truck "<em>will be able to travel a total distance of over 5000 miles without an engine failure</em>" with a probability of 0.89435 or about 89.435%.

For a sample of 12 trucks, its average time-between-failures of 5000 miles or more is 0.9999925 or practically 1.

Step-by-step explanation:

We have here a <em>random variable</em> <em>normally distributed</em> (the time between engine failures). According to this, most values are around the mean of the distribution and less are far from it considering both extremes of the distribution.

The <em>normal distribution</em> is defined by two parameters: the population mean and the population standard deviation, and we have each of them:

$\\ \mu = 6000$ miles.

$\\ \sigma = 800$ miles.

To find the probabilities asked in the question, we need to follow the next concepts and steps:

We will use the concept of the <em>standard normal distribution</em>, which has a mean = 0, and a standard deviation = 1. Why? With this distribution, we can easily find the probabilities of any normally distributed data, after obtaining the corresponding <em>z-score</em>.
A z-score is a kind of <em>standardized value</em> which tells us the <em>distance of a raw score from the mean in standard deviation units</em>. The formula for it is: $\\ z = \frac{x - \mu}{\sigma}$ . Where <em>x</em> is the value for the raw score (in this case x = 5000 miles).
The values for probabilities for the standard normal distribution are tabulated in the <em>standard normal table</em> (available in Statistics books and on the Internet). We will use the <em>cumulative standard normal table</em> (see below).

With this information, we can solve the first part of the question.

The chance that a truck will be able to travel a total distance of over 5000 miles without an engine failure

We can "translate" the former mathematically as:

$\\ P(x>5000)$ miles.

The z-score for x = 5000 miles is:

$\\ z = \frac{5000 - 6000}{800}$

$\\ z = \frac{-1000}{800}$

$\\ z = -1.25$

This value of z is negative, and it tells us that the raw score is 1.25 standard deviations <em>below</em> the population mean. Most standard normal tables are made using positive values for z. However, since the normal distribution is symmetrical, we can use the following formula to overcome this:

$\\ P(z$

So

$\\ P(z$

Consulting a standard normal table available on the Internet, we have

$\\ P(z$

Then

$\\ P(z1.25)$

$\\ P(z1.25)$

However, this value is for P(z<-1.25), and we need to find the probability P(z>-1.25) = P(x>5000) (Remember that we standardized x to z, but the probabilities are the same).

In this way, we have

$\\ P(z>-1.25) = 1 - P(z$

That is, the complement of P(z<-1.25) is P(z>-1.25) = P(x>5000). Thus:

$\\ P(z>-1.25) = 1 - 0.10565$

$\\ P(z>-1.25) = 0.89435$

In words, a truck "<em>will be able to travel a total distance of over 5000 miles without an engine failure</em>" with a probability of 0.89435 or about 89.435%.

We can see the former probability in the graph below.

The chance that a fleet of a dozen trucks will have an average time-between-failures of 5000 miles or more

We are asked here for a sample of <em>12 trucks</em>, and this is a problem of <em>the sampling distribution of the means</em>.

In this case, we have samples from a <em>normally distributed data</em>, then, the sample means are also normally distributed. Mathematically:

$\\ \overline{x} \sim N(\mu, \frac{\sigma}{\sqrt{n}})$

In words, the samples means are normally distributed with the same mean of the population mean $\\ \mu$ , but with a standard deviation $\\ \frac{\sigma}{\sqrt{n}}$ .

We have also a standardized variable that follows a standard normal distribution (mean = 0, standard deviation = 1), and we use it to find the probability in question. That is

$\\ z = \frac{\overline{x} - \mu}{\frac{\sigma}{\sqrt{n}}}$

$\\ z \sim N(0, 1)$

Then

The "average time-between-failures of 5000" is $\\ \overline{x} = 5000$ . In other words, this is the mean of the sample of the 12 trucks.

Thus

$\\ z = \frac{\overline{x} - \mu}{\frac{\sigma}{\sqrt{n}}}$

$\\ z = \frac{5000 - 6000}{\frac{800}{\sqrt{12}}}$

$\\ z = \frac{-1000}{\frac{800}{\sqrt{12}}}$

$\\ z = \frac{-1000}{230.940148}$

$\\ z = -4.330126$

This value is so low for z, that it tells us that P(z>-4.33) is almost 1, in other words it is almost certain that for a sample of 12 trucks, its average time-between-failures of 5000 miles or more is almost 1.

$\\ P(z$

$\\ P(z$

$\\ P(z$

The complement of P(z<-4.33) is:

$\\ P(z>-4.33) = 1 - P(z$ or practically 1.

In conclusion, for a sample of 12 trucks, its average time-between-failures of 5000 miles or more is 0.9999925 or practically 1.

7 0

3 years ago