Question Two Small business owners often look to payroll service companies to handle their emplo yee payroll. Reasons are that small business owners face complicated tax regulation s, and penalties for employment tax errors are costly. According to the ZRA, 26% of all small business employment tax returns contained errors that resulted in a tax penalty to the owner. The tax penalty for a sample of 20 small business owners follows: 820 270 450 1010 890 700 1350 350 300 1200 390 730 2040 230 640 350 420 270 370 620 a) What is the mean tax penalty for improperly filed employment tax returns? b) What is the standard deviation? c) Is the highest penalty, K2040, an outlier?
Question Two Small business owners often look to payroll service companies to handle their emplo yee payroll. Reasons are that small business owners face complicated tax regulation s, and penalties for employment tax errors are costly. According to the ZRA, 26% of all small business employment tax returns contained errors that resulted in a tax penalty to the owner. The tax penalty for a sample of 20 small business owners follows: 820 270 450 1010 890 700 1350 350 300 1200 390 730 2040 230 640 350 420 270 370 620 a) What is the mean tax penalty for improperly filed employment tax returns? b) What is the standard deviation? c) Is the highest penalty, K2040, an outlier?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:Question Two
Small business owners often look to payroll service companies to handle their emplo
yee payroll. Reasons are that small business owners face complicated tax regulation
s, and penalties for employment tax errors are costly. According to the ZRA, 26% of all
small business employment tax returns contained errors that resulted in a tax penalty
to the owner. The tax penalty for a sample of 20 small business owners follows:
820
270 450
1010 890
700 1350 350 300
1200
390
730 2040 230 640 350 420 270 370
620
a) What is the mean tax penalty for improperly filed employment tax returns?
b) What is the standard deviation?
c) Is the highest penalty, K2040, an outlier?
d) What are some of the advantages of a small business owner hiring a payroll service compan
y to handle employee payroll services, including the employment tax retums?
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