According to the Internal Revenue Service, income tax returns one year averaged $1,332 in refunds for taxpayers. One explanation of this figure is that taxpayers would rather have the government keep back too much money during the year than to owe it money at the end of the year. Suppose the average amount of tax at the end of a year is a refund of $1,332, with a standard deviation of $725. Assume that amounts owed or due on tax returns are normally distributed. (a) What proportion of tax returns show a refund greater than $2,400? (b) What proportion of the tax returns show that the taxpayer owes money to the government? (c) What proportion of the tax returns show a refund between $110 and $710? (Round the values of z to 2 decimal places, e.g. 2.53. Round your answers to 4 decimal places, e.g. 0.2531.) (a) P(x > $2,400) = enter proportion rounded to 4 decimal places (b) P(x < 0) = enter proportion rounded to 4 decimal places (c) P($110 ≤ x ≤ $710) = enter proportion rounded to 4 decimal places
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
According to the Internal Revenue Service, income tax returns one year averaged $1,332 in refunds for taxpayers. One explanation of this figure is that taxpayers would rather have the government keep back too much money during the year than to owe it money at the end of the year. Suppose the average amount of tax at the end of a year is a refund of $1,332, with a standard deviation of $725. Assume that amounts owed or due on tax returns are
(a) What proportion of tax returns show a refund greater than $2,400?
(b) What proportion of the tax returns show that the taxpayer owes money to the government?
(c) What proportion of the tax returns show a refund between $110 and $710?
(Round the values of z to 2 decimal places, e.g. 2.53. Round your answers to 4 decimal places, e.g. 0.2531.)
| (a) P(x > $2,400) = enter proportion rounded to 4 decimal places (b) P(x < 0) = enter proportion rounded to 4 decimal places (c) P($110 ≤ x ≤ $710) = enter proportion rounded to 4 decimal places |
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