Question D E and F The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expectednumber of audits a person with that income has in a 15-year period. Assume each year is independent.O Part (a)O Part (b)O Part (c)O Part (d)How many audits are expected in a 15-year period? (Round your answer to two decimal places.)auditsO Part (e)Find the probability that a person is not audited at all. (Round your answer to four decimal places.)O Part (f)Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)

(d) The number of audits expected in a 15-year period is, EX=np =15×0.02 =0.3 The…

Answered: The chance of an IRS audit for a tax…

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter7: Integration

Section7.CR: Chapter 7 Review

Problem 88CR

See similar textbooks

Similar questions

Oil ProductionThe following table shows the amount of crude oil in billions of barrels produced in the United States in recent years. Source: U.S. Energy Information Administration. Year Crude Oil Produced 2002 2.097 2003 2.060 2004 1.989 2005 1.893 2006 1.857 2007 1.853 2008 1.830 2009 1.954 2010 2.000 2011 2.063 2012 2.377 In this exercise we are interested in the total amount of crude oil produced over the 10-year period from mid-2002 to mid-2012, using the data for the 11 years above. One approach is to sum up the numbers in the second column, but only count half of the first and last numbers. Give the answer to this calculation. Approximate the amount of crude oil produced over the 10-year period 2002-2012 by taking the average of the left endpoint sum and the right endpoint sum. Explain why this is equivalent to the calculation done in part a. This is also equivalent to a formula known as the trapezoidal rule, discussed in the next chapter. If your calculator has a cubic regression feature, find the best-fitting cubic function for these data, letting t=0 correspond to 2000. Then integrate this equation over the interval [2.12] to estimate the amount of crude oil produced over this time period. Compare with your answer to part a.
Depreciation Once a new car is driven away from the dealer, it begins to lose value. Each year, a car loses 10% of its value. This means that each year the value of a car is 90% of the previous year’s value. If a new car was purchased for $20,000, the value at the end of the first year would be $20000(0.90) and the value of the car after the end of the second year would be $20000(0.90)2. Complete the table shown below. What will be the value of the car at the end of the eighth year? Simplify the expression, to show the value in dollars.

Recommended textbooks for you

Calculus For The Life Sciences

Calculus

ISBN:

9780321964038

Author:

GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:

Pearson Addison Wesley,

Elementary Algebra

Algebra

ISBN:

9780998625713

Author:

Lynn Marecek, MaryAnne Anthony-Smith

Publisher:

OpenStax - Rice University

Holt Mcdougal Larson Pre-algebra: Student Edition…

Algebra

ISBN:

9780547587776

Author:

HOLT MCDOUGAL

Publisher:

HOLT MCDOUGAL

Calculus For The Life Sciences

Calculus

ISBN:

9780321964038

Author:

GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:

Pearson Addison Wesley,

Elementary Algebra

Algebra

ISBN:

9780998625713

Author:

Lynn Marecek, MaryAnne Anthony-Smith

Publisher:

OpenStax - Rice University

Holt Mcdougal Larson Pre-algebra: Student Edition…

Algebra

ISBN:

9780547587776

Author:

HOLT MCDOUGAL

Publisher:

HOLT MCDOUGAL

Algebra & Trigonometry with Analytic Geometry

Algebra

ISBN:

9781133382119

Author:

Swokowski

Publisher:

Cengage

SEE MORE TEXTBOOKS

The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 15-year period. Assume each year is independent.