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Calculate the Social Security and Medicare tax that would be applied to an annual salary of $235,430. Use $106,800 for maximum t

Artemon [7]

<span>Social Security tax is a percentage that both employees and employers must contribute 6.2% of employee compensation, for a total of 12.4%. The social security that would be applied to an annual salary of $235,430 using $106,800 as the maximum taxable income is 12.4% of $106,800 = 0.124 x $106,800 = $13,243.20 The Medicare payroll tax is 2.9%. It applies only to earned income, which is wages you are paid by an employer, plus tips. You're responsible for 1.45% of the tax, and it's deducted automatically from your paycheck. Your employer pays the other 1.45% The Medicare tax that would be applied to an annual salary of $235,430 using $106,800 as the maximum taxable income is 2.9% of $106,800 = 0.029 x $106,800 = $3,097.20 </span>

5 0

2 years ago

Assume the sample variances to be continuous measurements. Find the probability that a random sample of 25observations, from a n

konstantin123 [22]

Answer:

a) $P(4S^2 > 4*9.1) = P(\chi^2_{24} >36.4) = 0.0502$

b) $P(13.848$ Step-by-step explanation:

Previous concepts

The Chi Square distribution is the distribution of the sum of squared standard normal deviates .

For this case we assume that the sample variance is given by $S^2$ and we select a random sample of size n from a normal population with a population variance $\sigma^2$ . And we define the following statistic:

$T = \frac{(n-1) S^2}{\sigma^2}$

And the distribution for this statistic is $T \sim \chi^2_{n-1}$

For this case we know that n =25 and $\sigma^2 = 6$ so then our statistic would be given by:

$\chi^2 = \frac{(n-1)S^2}{\sigma^2}=\frac{24 S^2}{6}= 4S^2$

With 25-1 =24 degrees of freedom.

Solution to the problem

Part a

For this case we want this probability:

$P(S^2 > 9.1)$

And we can multiply the inequality by 4 on both sides and we got:

$P(4S^2 > 4*9.1) = P(\chi^2_{24} >36.4) = 0.0502$

And we can use the following excel code to find it: "=1-CHISQ.DIST(36.4,24,TRUE)"

Part b

For this case we want this probability:

$P(3.462 < S^2$

If we multiply the inequality by 4 on all the terms we got:

$P(3.462*4 < 4S^2 < 4*10.745)= P(13.848< \chi^2$ And we can find this probability like this: $P(13.848$ And we use the following code to find the answer in excel: "=CHISQ.DIST(42.98,24,TRUE)-CHISQ.DIST(13.848,24,TRUE)"

8 0

2 years ago

Explain how to write 3*3/8 as the product of a whole number and a unit fraction

Lady_Fox [76]

9/8 because you multiply 3 × 3 and leave the denominator the same

4 0

2 years ago

A translation is a type of transformation in which a figure is .

Romashka [77]

Answer: Rotation

Step-by-step explanation: can't be translation its tilted cant be reflection because of the tilt also cant be dilation because its the same size {hope this help's :{

7 0

2 years ago

Read 2 more answers

While shopping at a clearance sale, Samantha finds a $60.00 dress on sale for 25% off. Samantha also has a 50% off coupon. Which

liq [111]

It seems most likely that ...

... Samantha will save $37.50 because she must first find the 25% sale price before taking the extra 50% reduction

_____

In the real world, it seems probable that Samantha will be offered the choice of using the coupon <em>or</em> the sale discount. If she chooses tht 50% coupon, her savings will be $30. If she chooses the marked sale discount, her savings will be $15.

The scenario above assumes she gets 50% off the sale price of $45, so saves $15+22.50 = $37.50 off the original price.

6 0

2 years ago

Read 2 more answers