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b) According to the Internal Revenue Service, income tax returns one year averaged RM1,332 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 RM1,332, with a standard deviation of RM725. Assume that amounts owed or due on tax returns are normally distributed. i. Find the probability that a randomly selected tax returns show a refund greater than RM1,900. ii. Find the probability that a randomly selected tax returns show a refund between RM1,200 and RM1,800. iii. Find the probability that a randomly selected tax returns show a refund less than RM2,100.

b) According to the Internal Revenue Service, income tax returns one year averaged RM1,332 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 RM1,332, with a standard deviation of RM725. Assume that amounts owed or due on tax returns are normally distributed. i. Find the probability that a randomly selected tax returns show a refund greater than RM1,900. ii. Find the probability that a randomly selected tax returns show a refund between RM1,200 and RM1,800. iii. Find the probability that a randomly selected tax returns show a refund less than RM2,100.

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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b) According to the Internal Revenue Service, income tax returns one year averaged RM1,332 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 RM1,332, with a standard deviation of RM725. Assume that amounts owed or due on tax returns are normally distributed. i. Find the probability that a randomly selected tax returns show a refund greater than RM1,900. ii. Find the probability that a randomly selected tax returns show a refund between RM1,200 and RM1,800. iii. Find the probability that a randomly selected tax returns show a refund less than RM2,100.
Transcribed Image Text:b) According to the Internal Revenue Service, income tax returns one year averaged RM1,332 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 RM1,332, with a standard deviation of RM725. Assume that amounts owed or due on tax returns are normally distributed. i. Find the probability that a randomly selected tax returns show a refund greater than RM1,900. ii. Find the probability that a randomly selected tax returns show a refund between RM1,200 and RM1,800. iii. Find the probability that a randomly selected tax returns show a refund less than RM2,100.
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