SOLUTION: Suppose the probability of an IRS audit is 2.8 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 w

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Question 830721: Suppose the probability of an IRS audit is 2.8 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___________ 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 _______________

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose the probability of an IRS audit is 2.8 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 280 to 972
(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 972 to 280
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Cheers,
Stan H.