Here is the distribution of the adjusted gross income (in thousands of dollars) reported on individual federal
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Here is the distribution of the adjusted gross income (in thousands of dollars) reported on individual federal income tax returns in a recent year:
a. What is the probability that a randomly chosen return shows an adjusted gross income of $50,000 or more?
b. Given that a return shows an income of at least $50,000, what is the conditional probability that the income is at least $100,000?
Transcribed Image Text:
Income <25 25-49 50-99 100-499 2500 Probability 0.431 0.248 0.215 0.100 0.006
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