The tax rate need to be imposed to meet the budgetary demands, if $3,435,000 are needed to provide government services next year and the total assessed property value is $71,800,000. Also express the tax rate in all the four ways.

Question

Problem 1 An airport is served with an average of 10 departures per day to your desired destination. However, all these flights leave at random times. You are trying to decide how long you are willing to wait to catch the next flight after you arrive at airport. Part A: Acceptable waiting time: T [min] = 78min Part B: What is the probability there will be exactly one departure during this waiting time? Part C: What is the probability there will be exactly no departure during this waiting time? Part D: Which calculation (B or C) should you use to make your decision to wait or leave? Why?

Answer 1

Question

Chapter 18.II, Problem 9TIE

To determine

To calculate: The tax rate need to be imposed to meet the budgetary demands, if $3,435,000 are needed to provide government services next year and the total assessed property value is $71,800,000. Also express the tax rate in all the four ways.

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