EBK BUSINESS STATISTICS
7th Edition
ISBN: 8220102743984
Author: STEPHAN
Publisher: PEARSON
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To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger th
average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow.
Adjusted Gross Income
($1,000s)
22
Itemized Deductions
($1,000s)
9.6
27
9.6
32
10.1
48
11.1
65
11.5
85
120
19.7
23.5
(a) Develop a scatter diagram for these data with adjusted gross income as the independent variable.
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15
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Itemized Deductions ($1,000s)
0
20 40 60 80 100 120
Adjusted Gross Income ($1,000s)
140
30
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20
15
10
5.
Itemized Deductions ($1,000s)
30
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20
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10
•
15
•
10
5-
0
20 40 60
80 100 120 140
0
Adjusted Gross Income ($1,000s)
20 40 60 80 100…
To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with larg
given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow.
Adjusted Gross Income Itemized Deductions
($1,000s)
22
($1,000)
9.6
27
9.6
32
10.1
48
11.1
65
13.5
85
120
15.7
25.5
(a) Develop a scatter diagram for these data with adjusted gross income as the independent variable.
30
25
20
15
10
5
30
25
20
15
10
5+
30
25-
20-
15-
10-
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5-
0
20 40 60
80 100 120 140
Adjusted Gross Income ($1,000s)
0
20 40 60 80 100 120 140
0
Adjusted Gross Income ($1,000s)
20 40 60 80 100 120 140
Adjusted Gross Income ($1,000s)
30
25
20
15
10
5-
0
20 40 60 80 100
Adjusted Gross Income ($1,000s)
120
140
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(b) Use the least squares method to…
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