Answer:
Step-by-step explanation:
See attached file for answer pls
Answer:
An individual's effective tax rate represents the average of all tax brackets that their income passes through as well as the total of all deductions and credits that lower their total income to their taxable income.
Step-by-step explanation:
The slope of the line is 4.83 and the y-intercept is 51
<h3>How to determine slope and the y-intercept?</h3>
From the graph, we can see that the line of the best fit touches the y-axis at y = 51
This means that:
The y-intercept is 51
The slope is then calculated as:
m = (y2 - y1)/(x2 - x1)
Using the points on the line, we have:
m = (80 - 51)/(6 - 0)
Evaluate
m = 4.83
Hence, the slope of the line is 4.83
Read more about line of best fit at:
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<u>Given</u>:
Mean,
![\mu = 300,000](https://tex.z-dn.net/?f=%5Cmu%20%3D%20300%2C000)
Standard deviation,
![\sigma = 50,000](https://tex.z-dn.net/?f=%5Csigma%20%3D%2050%2C000)
The Chebyshev theorem will be used for the solution of the given query,
i.e., ![P(|X - \mu| < k \sigma ) \geq 1-\frac{1}{k^2}](https://tex.z-dn.net/?f=P%28%7CX%20-%20%5Cmu%7C%20%3C%20k%20%5Csigma%20%29%20%5Cgeq%201-%5Cfrac%7B1%7D%7Bk%5E2%7D)
(i)
⇒ ![1-\frac{1}{k^2} = 0.75](https://tex.z-dn.net/?f=1-%5Cfrac%7B1%7D%7Bk%5E2%7D%20%3D%200.75)
![k = 2](https://tex.z-dn.net/?f=k%20%3D%202)
The lower limit will be:
= ![\mu - k \sigma](https://tex.z-dn.net/?f=%5Cmu%20-%20k%20%5Csigma)
= ![300000-2\times 50000](https://tex.z-dn.net/?f=300000-2%5Ctimes%2050000)
= ![200000](https://tex.z-dn.net/?f=200000)
The upper limit will be:
= ![\mu + k \sigma](https://tex.z-dn.net/?f=%5Cmu%20%2B%20k%20%5Csigma)
= ![300000+2\times 50000](https://tex.z-dn.net/?f=300000%2B2%5Ctimes%2050000)
= ![400000](https://tex.z-dn.net/?f=400000)
hence,
The 75% houses sold are between:
⇒ (200000, 400000)
(ii)
⇒ ![\mu -k \sigma = Lower \ limit](https://tex.z-dn.net/?f=%5Cmu%20-k%20%5Csigma%20%3D%20Lower%20%5C%20limit)
By putting the values, we get
![300000-50000k = 150000](https://tex.z-dn.net/?f=300000-50000k%20%3D%20150000)
![300000-150000=50000k](https://tex.z-dn.net/?f=300000-150000%3D50000k)
![150000=50000k](https://tex.z-dn.net/?f=150000%3D50000k)
![k=\frac{150000}{50000}](https://tex.z-dn.net/?f=k%3D%5Cfrac%7B150000%7D%7B50000%7D)
![=3](https://tex.z-dn.net/?f=%3D3)
now,
⇒ ![1-\frac{1}{k^2} = 1-\frac{1}{3^2}](https://tex.z-dn.net/?f=1-%5Cfrac%7B1%7D%7Bk%5E2%7D%20%3D%201-%5Cfrac%7B1%7D%7B3%5E2%7D)
![=\frac{8}{9}](https://tex.z-dn.net/?f=%3D%5Cfrac%7B8%7D%7B9%7D)
![=0.8888](https://tex.z-dn.net/?f=%3D0.8888)
(%)
hence,
88.88% houses sold between 150000 and 450000.
(iii)
⇒ ![\mu - k \sigma = Lower \ limit](https://tex.z-dn.net/?f=%5Cmu%20-%20k%20%5Csigma%20%3D%20Lower%20%5C%20limit)
By putting the values, we get
![300000-50000k = 170000](https://tex.z-dn.net/?f=300000-50000k%20%3D%20170000)
![300000-170000=50000 k](https://tex.z-dn.net/?f=300000-170000%3D50000%20k)
![130000= 50000 k](https://tex.z-dn.net/?f=130000%3D%2050000%20k)
![k = \frac{130000}{50000}](https://tex.z-dn.net/?f=k%20%3D%20%5Cfrac%7B130000%7D%7B50000%7D)
![=2.6](https://tex.z-dn.net/?f=%3D2.6)
now,
⇒ ![1-\frac{1}{k^2} = 1-\frac{1}{2.6^2}](https://tex.z-dn.net/?f=1-%5Cfrac%7B1%7D%7Bk%5E2%7D%20%3D%201-%5Cfrac%7B1%7D%7B2.6%5E2%7D)
![=0.8521](https://tex.z-dn.net/?f=%3D0.8521)
(%)
hence,
85.21% houses are sold between 170000 and 430000.
Learn more:
brainly.com/question/20897803
answer 5/6 decimal form is 0.83