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 14-year period. Assume each year is independent. Part (a) In words, define the Random Variable X. the number of audits the IRS does each year the number of audits the IRS does every 14 years for a person who has an income over $25,000 the yearly income of a person the number of audits a person who has an income over $25,000 receives in a 14-year period Part (b) List the values that X may take on. OX=1, 2, 3, . 98, 99, 100 Ox= 1, 2, 3, .., 13, 14 X = 1, 2, 3, .. X= 0, 1, 2, ., 13, 14
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 14-year period. Assume each year is independent. Part (a) In words, define the Random Variable X. the number of audits the IRS does each year the number of audits the IRS does every 14 years for a person who has an income over $25,000 the yearly income of a person the number of audits a person who has an income over $25,000 receives in a 14-year period Part (b) List the values that X may take on. OX=1, 2, 3, . 98, 99, 100 Ox= 1, 2, 3, .., 13, 14 X = 1, 2, 3, .. X= 0, 1, 2, ., 13, 14
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I need Part e and Part f
![Part (c)
Give the distribution of X.
(O.
Part (d)
How many audits are expected in a 14-year period? (Round your answer to two decimal places.)
audits
Part (e)
Find the probability that a person is not audited at all. (Round your answer to four decimal places.)
Part (f)
Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fae0d728a-608e-4e54-99d0-d7bcaf321eaf%2F88b4561b-755a-496b-954c-18ae483cce75%2F66y7s3a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Part (c)
Give the distribution of X.
(O.
Part (d)
How many audits are expected in a 14-year period? (Round your answer to two decimal places.)
audits
Part (e)
Find the probability that a person is not audited at all. (Round your answer to four decimal places.)
Part (f)
Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)
![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 14-year period. Assume each year is independent.
Part (a)
In words, define the Random Variable X.
the number of audits the IRS does each year
the number of audits the IRS does every 14 years for a person who has an income over $25,000
the yearly income of a person
the number of audits a person who has an income over $25,000 receives in a 14-year period
Part (b)
List the values that X may take on.
X = 1, 2, 3, ..., 98, 99, 100
OX= 1, 2, 3, .., 13, 14
X 1, 2, 3, ...
X= 0, 1, 2, ..., 13, 14
Part (c)
Give the distribution of X.
O Part ld.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fae0d728a-608e-4e54-99d0-d7bcaf321eaf%2F88b4561b-755a-496b-954c-18ae483cce75%2F3h50gh_processed.jpeg&w=3840&q=75)
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 14-year period. Assume each year is independent.
Part (a)
In words, define the Random Variable X.
the number of audits the IRS does each year
the number of audits the IRS does every 14 years for a person who has an income over $25,000
the yearly income of a person
the number of audits a person who has an income over $25,000 receives in a 14-year period
Part (b)
List the values that X may take on.
X = 1, 2, 3, ..., 98, 99, 100
OX= 1, 2, 3, .., 13, 14
X 1, 2, 3, ...
X= 0, 1, 2, ..., 13, 14
Part (c)
Give the distribution of X.
O Part ld.
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