MBAQ3 - TeamMBA Statistics Foundation Quiz 3 Due date...

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TeamMBA Statistics Foundation Name: Quiz 3 Due date posted on the website Please submit your responses electronically by typing your answers on this page. If you use Excel to answer any questions, provide the Excel command that you used and the answer (or provide a copy of your Excel file). The referenced data sets are on the website on the Data Sets page. 1. This revisits/extends a problem from Quiz 2. According to the IRS, the chances of your tax return being audited are about 15 in 1000 if your income is less than $100,000 and 30 in 1000 if your income is $100,000 or more. a. What is the probability that a taxpayer with income less than $100,000 will be audited by the IRS? [show your answer from Quiz 2] b. What is the probability that a taxpayer with income of $100,000 or more will be audited by the IRS? [show your answer from Quiz 2] c. If five taxpayers with incomes under $100,000 are randomly selected, what is the probability that exactly one will be audited?
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