Question

This sample is taken from taxpayers who were audited for tax year 2018: Solve the below questions pertaining to the data given.

Frequency Taxable Income($1000s)
1 20 to under 40 (20,000 to <40,000)
5 40 to under 60 (40,000 to <60,000)
16 60 to under 80 (60,000 to <80,000)
21 80 to under 100 (80,000 to <100,000)

4) What is the cumulative relative frequency of taxpayers who were audited and their taxable income was less than $60,000? A. 0.14 B. 0.58 C. 0.66 D. 0.91

5) What was the approximate average taxable income of taxpayers in this sample? A. $66,600 B. $76,512 C. $82,600 D. $95,000

6) What is the approximate variance of taxable income in this sample, rounded to nearest dollar? A. 113,312 B. 138,967 C. 242,303 D. 268,210

Answer 1