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The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 15-year period. Assume each year is independent.

The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 15-year period. Assume each year is independent.

MATLAB: An Introduction with Applications
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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The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 15-year period. Assume each year is independent. O Part (a) O Part (b) O Part (c) O Part (d) How many audits are expected in a 15-year period? (Round your answer to two decimal places.) audits O Part (e) Find the probability that a person is not audited at all. (Round your answer to four decimal places.) O Part (f) Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)
Transcribed Image Text:The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 15-year period. Assume each year is independent. O Part (a) O Part (b) O Part (c) O Part (d) How many audits are expected in a 15-year period? (Round your answer to two decimal places.) audits O Part (e) Find the probability that a person is not audited at all. (Round your answer to four decimal places.) O Part (f) Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)
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