New legislation passed in 2017 by the U.S. Congress changed tax laws that affect how many people file their taxes in 2018 and beyond. These tax law changes will likely lead many people to seek tax advice from their accountants.t An accounting firm in New York state believes that it may have to hire additional accountants to assist with the increased demand in tax advice for the upcoming tax season. The firm has developed the following probability distribution for x = number of new clients seeking tax advice. f(x) 20 0.05 25 0.20 30 0.35 35 0.15 40 0.10 45 0.10 50 0.05 (a) Is this a valid probability distribution? Explain. This probability distribution is valid because f(x) z 0 Ov for all values of x. Also, 5 f(x) = (b) What is the probability that the firm will obtain 40 or more new clients? (c) What is the probability that the firm will obtain fewer than 35 new clients?

New legislation passed in 2017 by the U.S. Congress changed tax laws that affect how many people file their taxes in 2018 and beyond. These tax law changes will likely lead many people to seek tax advice from their accountants.t An accounting firm in New York state believes that it may have to hire additional accountants to assist with the increased demand in tax advice for the upcoming tax season. The firm has developed the following probability distribution for x = number of new clients seeking tax advice. f(x) 20 0.05 25 0.20 30 0.35 35 0.15 40 0.10 45 0.10 50 0.05 (a) Is this a valid probability distribution? Explain. This probability distribution is valid because f(x) z 0 Ov for all values of x. Also, 5 f(x) = (b) What is the probability that the firm will obtain 40 or more new clients? (c) What is the probability that the firm will obtain fewer than 35 new clients?

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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Question

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New legislation passed in 2017 by the U.S. Congress changed tax laws that affect how many people file their taxes in 2018 and beyond. These tax law changes will likely lead many people to seek tax
advice from their accountants.t An accounting firm in New York state believes that it may have to hire additional accountants to assist with the increased demand in tax advice for the upcoming tax
season. The firm has developed the following probability distribution for x = number of new clients seeking tax advice.
f(x)
20
0.05
25
0.20
30
0.35
35
0.15
40
0.10
45
0.10
50
0.05
(a) Is this a valid probability distribution? Explain.
This probability distribution
valid because
for all values of x. Also, f(x)
is
f(x) > 0
(b) What is the probability that the firm will obtain 40 or more new clients?
(c) What is the probability that the firm will obtain fewer than 35 new clients?
(d) Compute the expected value, variance, and standard deviation of x. (Round your answers to four decimal places.)
expected value
41.75
variance
352.5656
standard deviation
18.7768 X
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$Discrete Probability Distributions$

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Faked numbers in tax returns, invoices, or expense account claims often display patterns that aren't present in legitimate records. Some patterns, like too many round numbers, are obvious and easily avoided by a clever crook. Others are more subtle. It is a striking fact that the first digits of numbers in legitimate records often follow a model known as Benford's law. Call the first digit of a randomly chosen legitimate record X for short. The probability distribution for X is shown here (note that a first digit cannot be 0). First digit x; Probability Pi 1 0.301 2 0.176 3 4 0.125 0.097 What is the expected value of X? Interpret this value. 5 0.079 6 0.067 7 0.058 8 0.051 9 0.046 ○ μx = 5. In many, many randomly chosen legitimate records, the average of the first digit would be about 5. ○ μx = 3.441. In many, many randomly chosen legitimate records, the average of the first digit would be about 3.441. μx 5. In a randomly chosen legitimate record, the average of the first digit would…
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