Question 1129791: Check my work Check My Work button is now enabledItem 2 Item 2 5 points
Suppose the probability of an IRS audit is 1.2 percent for U.S. taxpayers who file form 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.)
Odds that a taxpayer will be audited
.88
to
(b) What are the odds against such a taxpayer being audited? (Round your answers to the nearest whole number.)
Odds against a taxpayer being audited
to
1
Answer by greenestamps(13198)   (Show Source):
You can put this solution on YOUR website!
We can't "check your work", because you don't show any work.
You show an answer to one of the two questions; that answer is wrong. You don't show an answer to the other question.
If you have stated the problem completely and correctly, then the object of the problem is to compare probability to odds in favor of or odds against.
Here is a simple sample problem to show the comparison.
The probability of rolling a 5 on one throw of a fair standard 6-sided die is 1/6, because there are 6 different numbers on the die and only 1 of them is a 5.
The odds AGAINST rolling a 5 on one throw of a fair standard 6-sided die are 5:1, because there are 5 unfavorable possible outcomes and only one favorable outcome.
The odds IN FAVOR OF rolling a 5 on one throw of a fair standard 6-sided die are 1:5, because there is only one favorable outcome and 5 unfavorable possible outcomes.
In your problem, the probability of getting audited is 1.2%, or 0.012. Use that probability in the same way as shown in the example to find the odds in favor of getting audited and the odds against getting audited.
|
|
|
