# Question: Suppose the probability of an IRS audit is 1 7 percent

Suppose the probability of an IRS audit is 1.7 percent for U.S. taxpayers who le form 1040 and who earned $100,000 or more.

(a) What are the odds that such a taxpayer will be audited?

(b) What are the odds against such a taxpayer being audited?

(a) What are the odds that such a taxpayer will be audited?

(b) What are the odds against such a taxpayer being audited?

**View Solution:**## Answer to relevant Questions

List two mutually exclusive events that describe the possible outcomes of each situation. a. A pharmaceutical firm seeks FDA approval for a new drug. b. A baseball batter goes to bat. c. A woman has a mammogram test. Given P(A) = .40, P(B) = .50, and P(A ∩ B) = .05. (a) Find P(A | B). (b) In this problem, are A and B independent? Explain. A baseball player bats either left-handed (L) or right-handed (R). The player either gets on base (B) or does not get on base (B). (a) Enumerate the elementary events in the sample space. (b) Would these elementary events be ...A study showed that 60 percent of The Wall Street Journal subscribers watch CNBC every day. Of these, 70 percent watch it outside the home. Only 20 percent of those who don't watch CNBC every day watch it outside the home. ...Until 2005, the UPC bar code had 12 digits (09). The first six digits represent the manufacturer, the next five represent the product, and the last is a check digit. (a) How many different manufacturers could be ...Post your question