Question

In: Statistics and Probability

There are 32 families living in the Willbrook Farms Development. Of these families, 16 prepared their...

There are 32 families living in the Willbrook Farms Development. Of these families, 16 prepared their own federal income taxes for last year, 11 had their taxes prepared by a local professional, and the remaining 5 by H&R Block.

a.

What is the probability of selecting a family that prepared their own taxes? (Round your answers to 3 decimal places.)

  Probability
b.

What is the probability of selecting two families, both of which prepared their own taxes? (Round your answers to 3 decimal places.)

  Probability
c.

What is the probability of selecting three families, all of which prepared their own taxes? (Round your answers to 3 decimal places.)

  Probability
d.

What is the probability of selecting two families, neither of which had their taxes prepared by H&R Block? (Round your answers to 3 decimal places.)

  Probability

Solutions

Expert Solution

Solution;-

a) The probability of selecting a family that prepared their own taxes is 0.50 .

Total number of families = 32

Number of families prepared their own federal income taxes = 16

The probability of selecting a family that prepared their own taxes = 16/32 = 0.50

b) The probability of selecting two families, both of which prepared their own taxes is 0.242.

Total number of families = 32

Number of families prepared their own federal income taxes = 16

The probability of selecting two families, both of which prepared their own taxes

The probability of selecting two families, both of which prepared their own taxes is 0.2419

c) The probability of selecting three families, all of which prepared their own taxes is 0.113

Total number of families = 32

Number of families prepared their own federal income taxes = 16

The probability of selecting three families, all of which prepared their own taxes

The probability of selecting three families, all of which prepared their own taxes is 0.1129 .

d) The probability of selecting two families, neither of which had their taxes prepared by H&R Block is 0.844 .

P(Not By HR) = 1 - [P(HR, HR) + P(Not HR, HR)]

P(Not By HR)

P(Not By HR) = 1 - 0.15625

P(Not By HR) = 0.8437


Related Solutions

There are 23 families living in the Willbrook Farms Development. Of these families, 10 prepared their...
There are 23 families living in the Willbrook Farms Development. Of these families, 10 prepared their own federal income taxes for last year, 5 had their taxes prepared by a local professional, and the remaining 8 by H&R Block. What is the probability of selecting a family that prepared their own taxes? (Round your answer to 2 decimal places.) What is the probability of selecting two families, both of which prepared their own taxes? (Round your answer to 4 decimal...
Chicago Families: A survey is taken to estimate the mean annual family income for families living...
Chicago Families: A survey is taken to estimate the mean annual family income for families living in public housing in Chicago. From a random sample of 30 families, the annual incomes (in hundreds of dollars) are as follows 83 90 77 100 83 64 78 92 73 122 96 60 85 86 108 70 139 56 94 84 111 93 120 70 92 100 124 59 112 79 a) Construct and interpret a 95% confidence interval for b) Construct a...
A survey of families living in a certain city was conducted to collect information on the...
A survey of families living in a certain city was conducted to collect information on the following variables: age of the oldest person in the family, number of family members, number of males in the family, number of females in the family, whether or not they own a house, income of the family, whether or not the family took vacations during the past one year, whether or not they are happy with their financial situation, and the amount of their...
For the problems 1 -6 Consider the data set    16, 26, 31, 32, 32, 32,...
For the problems 1 -6 Consider the data set    16, 26, 31, 32, 32, 32, 42, 47, 47, 47, 50, 50 (already put in increasing order) Compute the following: 1/   The mode: A/ 47       B/ 32           C/ Bimodal       D/ 42   2/   The median: A/ 42       B/ 37           C/ 32           D/ 47   3/   The mean:        A/ 37.7       B/ 37           C/ 36           D/ 36.2 4/  ...
There are only three families living on an island. All of them are working and collaborating...
There are only three families living on an island. All of them are working and collaborating in producing the island's economy. • Family 1 is the land owner consisting of a father and son. The monthly income of this family is $220 Family 2 is the island manager working for the land owner and managing workers in the island. The monthly income of this family is $60. The family consists of a father, mother and one child. Family 3 is...
A survey is taken to estimate the mean annual family income for families living in public...
A survey is taken to estimate the mean annual family income for families living in public housing in Chicago. For a random sample of 29 families, the annual incomes (in hundreds of dollars) are as follows: 90 77 100 83 64 78 92 73 122 96 60 85 86 108 70 139 56 94 84 111 93 120 70 92 100 124 59 112 79 a. Construct a box plot of the incomes. What do you predict about the shape...
Mainland Farms has a tax rate of 32%, a pre-tax cost of debt of 5%, and...
Mainland Farms has a tax rate of 32%, a pre-tax cost of debt of 5%, and a cost of equity of 8%. The firm’s debt to equity ratio is 0.70. What is the NPV of a project that has an initial investment of $40,000 and after-tax cash flows of $12,000 per year for 6 years? (Assume the risk of the project is the same as the firm’s existing operations.) Select one: a. $15,474 b. $20,908 c. $12,352 d. $18,812 e....
Explain how families can influence young children's development.  
Explain how families can influence young children's development.  
The average income of 16 families who reside in a large city is $54,356 and the...
The average income of 16 families who reside in a large city is $54,356 and the standard deviation is $8256. The average income of 12 families who reside in a suburb of the same city is $46,512 with a standard deviation of $1311. At ? = 0.01, can it be concluded that the income of the families who reside within the city is greater than that of those who reside in the suburb? Assume the populations have equal variances and...
Many families choose to place their elderly loved ones in this assisted living facility because it...
Many families choose to place their elderly loved ones in this assisted living facility because it has a reputation as a caring and passionate provider of care throughout the United States. The facility has 225 efficiency apartments, furnished and equipped with the latest technology, in this segment of the health care industry. The assisted living facility administrator has provided some thoughts regarding the future of the facility, especially regarding some recently acquired survey results. Although most scores were very good,...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT