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Multiplier Effect In Exercises 87 and 88, use the following information. A state government gives property owners a tax rebate with the anticipation that each property owner will spend approximately
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Chapter 8 Solutions
Bundle: College Algebra, Loose-leaf Version, 10th + WebAssign Printed Access Card for Larson's College Algebra, 10th Edition, Single-Term
- In Exercises 49-52, use the bar graph, which shows the receipts of the federal government (in billions of dollars) for selected years from 2008 through 2014. In each exercise, you are given the expenditures of the federal government. Find the magnitude of the surplus or deficit for the year. YearReceipts,RExpenditures,ERE2008$2982.5billionarrow_forwardIn Exercises 49-52, use the bar graph, which shows the receipts of the federal government (in billions of dollars) for selected years from 2008 through 2014. In each exercise, you are given the expenditures of the federal government. Find the magnitude of the surplus or deficit for the year. YearReceipts,RExpenditures,ERE20103457.1billionarrow_forwardFederal Income tax owed by a married couple filing jointly can be found from the following table. Married Filing Jointly Taxable Income $0-$18,550 $18,551-$75,300 $75,301-$151,900 $151,901-$231,450 T(x) = $231,451-$413,350 $413,351-$466,950 $466,951 or more 10% if Tax Rate $1,855 plus 15% of the amount over $18,550 $10,367.50 plus 25% of the amount over $75,300 $29,517.50 plus 28% of the amount over $151,900 $51,791.50 plus 33% of the amount over $231,450 $111,818.50 plus 35% of the amount over $413,350 (a) For incomes up to $151,900, write the piecewise defined function T with input x that models the federal tax dollars due as a function of x, the taxable income dollars earned $130,578.50 plus 39.6% of the amount over $466,950 0 < x≤ 18,550 if 18,550 < x≤ 75,300 (b) Use the function to find T(40,000). $ if 75,300 < x≤ 151,900 (c) Find the tax due on a taxable income of $100,000. $ (d) A friend tells Jack Waddell not to earn any money over $75,300 because it will raise his tax rate to…arrow_forward
- New legislation passed in 2017 by the U.S. Congress changed tax laws that affect how many people file their taxes in 2018 and beyond. These tax law changes will likely lead many people to seek tax advice from their accountants (The New York Times). Backen and Hayes LLC is an accounting firm in New York state. The accounting firm believes that it may have to hire additional accountants to assist with the increased demand in tax advice for the upcoming tax season. Backen and Hayes LLC has developed the following probability distribution for number of new clients seeking tax advice. x f(x) 20 0.05 25 0.20 30 0.25 35 0.15 40 0.15 45 0.10 50 0.10 b. What is the probability that Backen and Hayes LLC will obtain 40 or more new clients (to 2 decimals c. What is the probability that Backen and Hayes LLC will obtain fewer than 35 new clients (to 2 decimals)? d.Compute the expected value, variance, and standard deviation of (to 2 decimals). Expected value…arrow_forwardBargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility that cleans each rental car before releasing it to another customer. Management believes the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month January February 25,000 March April 20,000 May June July August September October November December Exercise 5A-2 Part 1 (Algo) 15,000 Required: 1. Prepare a scattergraph plot. (Place car wash costs on the vertical axis and rental returns on the horizontal axis.) Instructions: Car Wash Costs (in dollars) 30,000 10,000 Rental Returns Car Wash Costs $ 11,400 $ 13,300 $ 12, 200 $ 14,900 $ 16,600 $ 24,100 $ 22,600 $ 23,200 $ 23,200 $ 22,300 $ 11,100 $ 15,600 1. On the graph below, use the point tool (January) to plot rental returns on the horizontal axis and car wash costs on the vertical axis. 5,000 2. Repeat…arrow_forwardJ.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: Fourth Quarter September (actual) October November December Credit sales Collections: Experience has shown that 40 percent of sales are collected in the month of sale, 50 percent are collected in the following month, and 10 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). In month of sales One month after sales $ 62,000 $ 52,000 Total cash receipts 47,000 72,000 J. Lo's Clothiers September $ October November 0 $ December 0 $ 0arrow_forward
- Franchise and Business Opportunities Annual Report contains information about franchise opportunities in the United States and Canada. A franchise fee is one of the expenses associated with owning a franchise. There are other expenses, such as startup, advertising, royalties, and so on. A large category of franchises is the fast-food businesss, which includes franchises such as baked goods, donuts, and hamburgers, chicken, and hotdogs. Franchise fees (in thousands of dollars) for the fast-food category are as follows: 21 25 25 18 44 20 25 15 19 24 1o 28 30 25 25 25 25 10 25 25 20 20. 20 15 10 20 25 25 13 30 15 28 15. 15 35 24 40 15 20 35 5 50 30 15 25 40 15 25 1575 33 23 30 10 15 8.25 10 8 20 25 20 30 FOR UNGROUPED DATA (USE 2 DECIMAL PLACES) MEAN = MEDIAN = MODE = KURTOSIS = SKEWNESS = CV = FOR GROUPED DATA (USE 2 DECIMAL PLACES) MEAN = CS Scanned with CamScannerarrow_forwardDevarrow_forwardFranchise and Business Opportunities Annual Report contains information about franchise opportunities in the United States and Canada. A franchise fee is one of the expenses associated with owning a franchise. There are other expenses, such as startup, advertising, royalties, and so on. A large category of franchises is the fast-food business, which includes franchises such as baked goods, donuts, hamburgers, chicken, and hotdogs. Franchise fees (in thousands of dollars) for the fast-food category are as follow 21 25 25 18 44 20 25 15 19 24 28 30 25 25 25 25 10 25 35 20 20 15 10 20 25 30 13 30 15 28 15 35 24 40 15 20 35 5 50 30 25 40 15 25 15 55 33 23 30 10 FOR UNGROUPED DATA (USE 2 DECIMAL PLACES) MODE = || KURTOSIS = SKEWNESS = CV = FOR GROUPED DATA (USE 2 DECIMAL PLACES) MEAN = MEDIAN = MODE = CV =arrow_forward
- Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much of this money is invested in a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of eight private colleges in the United States revealed the following endowments (in millions of dollars): 60.2, 47.0, 235.1, 490.0, 122.6, 177.5, 95.4, and 220.0. Summary statistics yield and Calculate a 90% confidence interval for the mean endowment of all private colleges in the United States. x=180.975 s=143.042arrow_forwardAccess to education in rural Burkina Faso.Burkina Faso, a landlocked country in West Africa, has the lowest adult literacy rate in the question 2 please answer b and c world (25.3%). Over the past 15 years, the government has focused heavily on improving accessto education across the country. Between 2008 and 2015, the primary school completion raterose from 40% to 60%, and the high school completion rate doubled over the same period from15% to 30%. Despite these encouraging statistics, children in rural areas, especially girls,continue to have limited access to quality education.Suppose you were sent to Burkina Faso as part of a team of summer interns to conduct fieldworkin a rural community to gather data on education. You put together a survey to distribute inhomes. a. What is the level of measurement of the following variables? i.Age at last birthday: _____________________ ii. Distance from school: _____________________ iii.Level of education (Primary, Secondary,…arrow_forwardExercise 13-50 (LO13-6) Mr. William Profit is studying companies going public for the first time. He is particularly interested in the relationship between the size of the offering and the price per share. A sample of 15 companies that recently went public revealed the following information. Size Price Size Price ($ millions), per Share, ($ millions), per Share, Company x y Company x y 1 9.0 10.8 9 160.7 11.3 2 94.4 11.3 10 96.5 10.6 3 27.3 11.2 11 83.0 10.5 4 179.2 11.1 12 23.5 10.3 5 71.9 11.1 13 58.7 10.7 6 97.9 11.2 14 93.8 11.0 7 93.5 11.0 15 34.4 10.8 8 70.0 10.7 a. Determine the regression equation. (Round your answers to 4 decimal places.) b-1. To determine if the slope of the regression line is positive, state the decision rule for 0.05 significance level: H0: β ≤ 0; H1: β > 0. (Round your answer to 3 decimal places.) b-2.…arrow_forward
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
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