Question

PROBLEM 1: Among all the forms of income declaration for payment and taxes, completed in a...

PROBLEM 1: Among all the forms of income declaration for payment and taxes, completed in a certain year, the average of the tax paid was $ 2000 and the standard deviation was $ 500. In addition, in 10% of the forms, the tax paid was higher to $ 3000. A random sample of 625 forms of income declaration is taken for the payment of taxes. What is the probability that more than 60 of the sample forms have a tax greater than $ 3000? POSSIBLE ANSWERS: a) 0.3936 b) 0.6460 c) 0.3639 d) 0.6064

PROBLEM 2: The following data is about the bending strength (MPa) of concrete beams of a certain type: 5.3, 5.4, 8.3, 7.4, 7.1, 8.3, 5.7, 6.5, 7.9, 6.9 Calculate the point estimate of the mean resistance value for the conceptual population of all beams fabricated in this way and tell what estimator use. POSSIBLE ANSWERS: a) 6.88, the sample mean b) 7.00, the sample median c) 8.30, sample fashion d) No answer is correct

PROBLEM 3: Among all the income tax return forms, completed in a certain year, the average tax paid was $ 2000 and the standard deviation was $ 500. In addition, in 10% of the forms, the tax paid was higher to $ 3000. A random sample of 625 forms of income declaration is taken for the payment of taxes. What is the probability that the average tax paid on sample forms is greater than $ 1980? POSSIBLE ANSWERS: a) 0.1586 b) 0.8413 c) 0.7890 d) No answer is correct

PROBLEM 4: The bags of a concrete mix, labeled with a weight of 100 pounds, have an average population weight of 100.15 pounds and a population standard deviation of 10 pounds. What is the probability that the average weight of a sample of size 33 is less than 101 pounds? POSSIBLE ANSWERS: a) no answer is correct b) 0.6873 c) 0.3127 d) 0.4656

PROBLEM 5: Juanita Martínez, a researcher at the Colombian Cofee Corporation, is interested in determining the rate of coffee use per household in the United States. She believes that the annual consumption per household has a mean μ = 18 pounds and standard deviation close to 4 pounds. If Juanita takes a sample of 36 households and records her coffee consumption for a year, what is the probability that the average sample is between 14 and 20 pounds? POSSIBLE ANSWERS: a) 0.9986 b) No answer is correct c) 0.9657 d) 0.0014

0 0
Add a comment Improve this question Transcribed image text
Answer #1

1)Solution:

n = 625

p = 0.10

binomial probability distribution

Formula:

P(k out of n )= n!*pk * qn-k / k! *(n - k)!

P( x > 60 ) = 625!*0.161 * 0.9625-61 / 61! *(625 - 61)!+625!*0.162 * 0.9625-62 / 62! *(625 - 62)!.......

...........+625!*0.1625 * 0.9625-625 / 60! *(625 - 625)!

= 0.5987

the near answer is option d

  

Add a comment
Know the answer?
Add Answer to:
PROBLEM 1: Among all the forms of income declaration for payment and taxes, completed in a...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Among all the income-tax forms filed in a certain year, the mean tax paid was $2000...

    Among all the income-tax forms filed in a certain year, the mean tax paid was $2000 and the standard deviation was $500. In addition, for 10% of the forms, the tax paid was greater than $3000. A random sample of 630 tax forms is drawn. What is the probability that more than 60 of the sampled forms have a tax of greater than $3000?

  • Federal Income Taxes Individuals and firms pay out a significant portion of their income as taxes,...

    Federal Income Taxes Individuals and firms pay out a significant portion of their income as taxes, so taxes are important in both personal and corporate decisions. Our tax system is progressive. Individual Individuals pay taxes on wages, on investment income, and on the profits of proprietorships and partnerships. Taxable income is defined as gross income less a set of exemptions and deductions. In 2013, the personal exemption is $3,900 per person. A capital gain (loss) is the profit (loss) from...

  • Chapter 7: Problem 16 Pr (1 point) The distribution of actual weights of 8-oz chocolate bars produced by a certain machine is normal with mean 7.8 ounces and standard deviation 0.15 ounces (a) Wh...

    Chapter 7: Problem 16 Pr (1 point) The distribution of actual weights of 8-oz chocolate bars produced by a certain machine is normal with mean 7.8 ounces and standard deviation 0.15 ounces (a) What is the probability that the average weight of a bar in a Simple Random Sample (SRS) with 3 of these chocolate bars is between 7.66 and 7.91 ounces? ANSWER (b) For a SRS 013 of these chocolate bars, what is the level L such that there...

  • Queston 9 of 10 (1 point) View problem in a pop-UR Annual income: The mean annual...

    Queston 9 of 10 (1 point) View problem in a pop-UR Annual income: The mean annual income for people in a certain city (in thousands of dollars) is 43, with a standard deviation of 23. A pollster draws a sample of 91 people to interview. 6 2 Section Exercise 29 (calc) Part 1 out of 5 What is the probability that the sample mean income is less than 40? Round the answer to four decimal places. The probability that the...

  • PROBLEM 1. One of the important factors in auto safety is a weight of a car....

    PROBLEM 1. One of the important factors in auto safety is a weight of a car. Insurance companies are interested in the average weight of cars currently licensed in the US. It is claimed to be 3,000 pounds. The weights of cars currently licensed in the US are known to be Normally distributed. Answer the following questions. Question 1. In order to check if this claim is correct, insurance companies selected a random sample of 29 cars and found their...

  • Federal Income Taxes Individuals and firms pay out a significant portion of their income as taxes,...

    Federal Income Taxes Individuals and firms pay out a significant portion of their income as taxes, so taxes are important in both personal and corporate decisions. Our tax system is progressive. Individual Individuals pay taxes on wages, on investment income, and on the profits of proprietorships and partnerships. Taxable income is defined as gross income less a set of exemptions and deductions. In 2013, the personal exemption is $3,900 per person. A capital gain (loss) is the profit (loss) from...

  • the following questions are either true or false answers 1. The Central Limit Theorem allows one...

    the following questions are either true or false answers 1. The Central Limit Theorem allows one to use the Normal Distribution for both normally and non-normally distributed populations. 2. A random sample of 25 observations yields a mean of 106 and a standard deviation of 12. Find the probability that the sample mean exceeds 110. The probability of exceeding 110 is 0.9525. 3. Suppose the average time spent driving for drivers age 20-to-24 is 25 minutes and you randomly select...

  • Hello, Problem Attached, all bolded parts are completed by me and were verified to be correct....

    Hello, Problem Attached, all bolded parts are completed by me and were verified to be correct. I am stuck on Part E and F. For tax purposes, “gross income” is all the money a person receives in a given year from any source. But income taxes are levied on “taxable income” rather than gross income. The difference between the two is the result of many exemptions and deductions. To see how they work, suppose you made $70,000 last year in...

  • Prepare an individual income tax return. Complete problem 9-72 in your textbook. All applicable tax forms...

    Prepare an individual income tax return. Complete problem 9-72 in your textbook. All applicable tax forms are required to be submitted. Utilize the attached "Tax Return 2018 Forms" document to assist you with this project. Form 1040 Schedule 1, Form 1040 Schedule 4, Form 1040 Schedule C, Form 1040 Schedule SE, Form 1040 Disregard the last part (Prepare Form 1040, Schedules A,C, and SE for forms 1040, and Form 2016 for 2018 year) those forms are not needed only the...

  • Problem 1: Calculate personal income taxes for a young engineer for years 1,7, and 10 after...

    Problem 1: Calculate personal income taxes for a young engineer for years 1,7, and 10 after graduation. Note in year 1 he/she is single (no home); in year 7 he/she is married (both working, no home); and in year 10 he/she is still married with two children and owns a home. Other financial information is provided on the Homework Assignment #8 Template. Note that state taxes were estimated for this problem. They vary from state to state. Use the tax...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT