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For the fiscal year​ 2007, a tax authority audited 1.91​% of individual tax returns with income of​ $100,000 or more. Suppose this percentage stays the same for the current tax year. What is the probability that two randomly selected returns with income of​ $100,000 or more will be​ audited?

Respuesta :

Answer:

0.036481 %

Step-by-step explanation:

Given,

1.91​% of individual tax returns  with income of​ $100,000 or more were audited,

So, the probability of a return with income of​ $100,000 or more will be​ audited = 1.91% = 0.0191,

If two returns were audited randomly,

Then, the probability that both were with income of​ $100,000 or more

= 0.0191 × 0.0191

= 0.00036481

= 0.036481 %

fichoh

The probability of auditing two individual tax return worth $100,000 or more is 0.00036481

The probability of auditing an individual tax return which is $100,000 or more = 1.91% = 0.0191

Therefore, the probability of auditing any tax return with $100,000 or more will be 0.0191

Thus, the probability of auditing two tax returns with $100,000 or more will be :

  • First event = 0.0191
  • Second event = 0.0191

Hence, the resulting probability is (0.0191 × 0.0191) = 0.00036481

Therefore, the probability of auditing individual tax returns of $100,000 or more is 0.00036481

Learn more : https://brainly.com/question/18153040

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