11. To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Therefore, he has collected seven randomly selected data (RM'o00) on adjusted gross income and the average or reasonable amount of itemized deductions (RM’000). The following Microsoft Excel Output depicted the analysis result. SUMMARY OUTPUT Regression Statistics Multiple R 0.9772 R Square 0.9549 Adjusted R Square 0.9458 Standard Error 1.3716 Observations 7 ANOVA MS Significance F Regression 1 199.0083 199.0083 105.7884 0.0001 Residual 9.4060 1.8812 Total 6. 208.4143 Coefficients Standard Error 1.0334 t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 4.6768 4.5256 0.0063 2.0203 7.3332 2.0203 7.3332 Adjusted Gross Income 0.1613 0.0157 10.2854 0.0001 0.1210 0.2016 0.1210 0.2016 Identify the dependent and independent variables involved in this study.

11. To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Therefore, he has collected seven randomly selected data (RM'o00) on adjusted gross income and the average or reasonable amount of itemized deductions (RM’000). The following Microsoft Excel Output depicted the analysis result. SUMMARY OUTPUT Regression Statistics Multiple R 0.9772 R Square 0.9549 Adjusted R Square 0.9458 Standard Error 1.3716 Observations 7 ANOVA MS Significance F Regression 1 199.0083 199.0083 105.7884 0.0001 Residual 9.4060 1.8812 Total 6. 208.4143 Coefficients Standard Error 1.0334 t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 4.6768 4.5256 0.0063 2.0203 7.3332 2.0203 7.3332 Adjusted Gross Income 0.1613 0.0157 10.2854 0.0001 0.1210 0.2016 0.1210 0.2016 Identify the dependent and independent variables involved in this study.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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