Concept explainers
IRS: Tax Returns Almost everyone files (or will someday file) a federal income tax return. A research poll for TurboTax. (a computer software package to aid in tax-return preparation) asked what aspect of filing a return people thought to be the most difficult. The results showed that
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Understanding Basic Statistics
- A group of researchers conducted a research in order to assess their opinion on expected 20% increase in development tax with the expectation of commencement of a new rail road project. Each person being interviewed was asked whether they would vote for this new change or not. Possible responses were vote for, vote against, and no opinion. 295 respondents said they would vote for the law, 672 said they would vote against the law, and 51 said they had no opinion.a. Do the responses for this question provide categorical or quantitative data? What is the scale of measurement? b. Draw a suitable graph and explain whether the results indicate general support for or against increasing the development tax to commence the new rail road project?arrow_forwardPurchasing magazine reported the results of a survey in which buyers were asked a series of questions with regard to internet usage. One question asked was how they would use the internet if security and other issues could be resolved. Seventy-eight percent said they would use it for pricing information, 75% said they would use it to send purchase orders, and 70% said they would use it for purchase order acknowledgments. Assume that these percentages hold true for all buyers. A researcher randomly samples 20 buyers and asked them how they would use the internet if security and other issues could be resolved. What is the probability that all of the buyers would use the internet to send purchase orders?arrow_forwardSeveral years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 67% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is . (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…arrow_forward
- Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 62% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is. (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…arrow_forwardSeveral years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 63% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is. (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…arrow_forwardSeveral years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 63% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is. (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…arrow_forward
- please answer a, b, and c.arrow_forwardAn industrial/organizational psychologist wants to improve worker productivity for a client firm, but first he needs to gain a better understanding of the life of the typical white-collar professional. Fortunately, he has access to the 2008 Workplace Productivity Survey, commissioned by LexisNexis and prepared by WorldOne Research, which surveyed a sample of 650 white-collar professionals (250 legal professionals and 400 other professionals). One of the survey questions was, “How many hours do you work at your job on a typical workday?” For the subsample of legal professionals (n = 250), the mean response was M = 9.0 hours, with a sample standard deviation of s = 10.4 hours. The estimated standard error is sMM = . Use the following Distributions tool to develop a 99% confidence interval estimate of the mean number of hours legal professionals work on a typical workday. The psychologist can be 99% confident that the interval from to includes the unknown…arrow_forwardBefore lending someone money, banks must decide whether they believe the applicant will repay the loan. One strategy used is a point system. Loan officers assess information about the applicant, totaling points they award for the person's income level, credit history, current debt burden, and so on. The higher the point total, the more convinced the bank is that it's safe to make the loan. Any applicant with a lower point total than a certain cutoff score is denied a loan. Think of this decision as a hypothesis test. Since the bank makes its profit from the interest collected on repaid loans, their null hypothesis is that the applicant will repay the loan and therefore should get the money. Only if the person's score falls below the minimum cutoff will the bank reject the null and deny the loan. Complete parts a through c below. a) In this context, what i meant by the power of the test? O A. The power is the probability that the bank denies loạn that would have been repaid. O B. The…arrow_forward
- The Student Union President conducted a survey to estimate the proportion of first year students who participated in the social activities organized by the Student Union. Which of the following surveying options does NOT affect the presidents ability to generalize the survey to all first year students. The president put the survey on the Student Union webpage a Monday and collected the responses at the end of the week. All of the other options present a problem for generalizing the results. The president polled all students coming out of the Student Union on a given Monday. The freshmen class consists of 3000 students. A random sample of only 300 were sent a survey. Only 150 responded. The survey was sent only to first year students enrolled in statistics courses because all students need to satisfy a statistics general education requirement.arrow_forwardThe Census Bureau Web site gives several choices for "average income" in its historical income data. In 2006, the median income of American households was $48,201. The mean household income was $66,570. The median income of families was $58,407, and the mean family income was $77,315. The Census Bureau says, “Households consist of all people who occupy a housing unit. The term ‘family’ refers to a group of two or more people related by birth, marriage, or adoption who reside together.” Identify the reason for mean incomes for households being higher than median incomes for households.arrow_forwardImagine that Alina’s shower leaks and she calls the plumber. The plumber tells her that the problem is caused by either a leaky drain or a cracked shower pan, but never both. He also tells her that, in his experience, a leaky drain is the cause of the problem in about 90%90% of cases. If he discovers that the drain is the problem, he can fix it for $250$250. If he discovers that the shower pan is the problem, he must charge $2500$2500 instead. What is the expected value of the repair price? Please round your answer to the nearest whole dollar.arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill