Suppose the probability of an IRS audit is 1.5 percent for U.S. taxpayers who file 1040 and who earned $100,000 or more. A) What are the odds that such a taxpayer will be audited? (Round your answers to the nearest whole number.) B) What are the odds against such a taxpayer being audited? (Round tiur answers to the nearest whole number.)
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Suppose the probability of an IRS audit is 1.5 percent for U.S. taxpayers who file 1040 and who earned $100,000 or more.
A) What are the odds that such a taxpayer will be audited? (Round your answers to the nearest whole number.)
B) What are the odds against such a taxpayer being audited? (Round tiur answers to the nearest whole number.)
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