The table describes the 63.1 million U.S. longform federal tax returns filed with the Internal Revenue Service
Question:
The table describes the 63.1 million U.S. longform federal tax returns filed with the Internal Revenue Service (IRS) in 1992 and the percentage of those returns that were audited by the IRS.
a. If a tax filer is randomly selected from this population of tax filers (i.e., each tax filer has an cqual probability of being selected), what is the probability that the tax filer was audited?
b. If a tax filer is randomly selected from this population of tax filers, what is the probability that the tax filer had an income of $25,000-
$49,999 in 1992 and was audited? What is the probability that the tax filer had an income of $50,000 or more in 1992 or was not audited?
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780130272935
8th Edition
Authors: James T. McClave, Terry Sincich, P. George Benson