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bogdanovich [222]

2 years ago

7

Tim worker estimates his taxable income will be $7000. He is paid twice a month or 24 times a year. Because Tim has only one sou

rce of income, he uses the tax tables to estimate how much will be deducted from his pay for withholding

2 answers:

Crazy boy [7]2 years ago

7 0

Answer:

Tim pays $29.16 each time and per month he pays $58.32.

Step-By-Step Explanation:

Tim's taxable income is $7000.

According to default tax table, people who earn under $10,000 has to pay 10% in taxes.

This means that:

Tim's taxes will be = 0.1 * 7000 = $700

Now, as given, he pays twice a month. This means that he pays 24 times a year.

Therefore this is $\frac{700}{24}= 29.16$

Hence, Tim pays $29.16 each time or 29.16*2= $58.32 per month.

torisob [31]2 years ago

4 0

Ol' Tim will not be subject to income tax at that level. But he will pay social security, the rate is 7.65%.
<span>Time may be eligible for other credits such as the earned income, making work pay, credit credit, etc. </span>
<span>We need a lot more info, but Tim should be withheld at this level.</span>

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Step-by-step explanation:

For each Internet browser user, there are only two possible outcomes. Either they use Chrome, or they do not. This means that we can solve this problem using concepts of the binomial probability distribution.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinatios of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

In this problem we have that:

Google Chrome has a 20.37% share of the browser market. This means that $p = 0.2037$

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$P(X = 8) = C_{20,8}.(0.2037)^{8}.(0.7963)^{12} = 0.0243$

There is a 2.43% probability that exactly 8 of the 20 Internet browser users use Chrome as their Internet browser.

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Either there are less than 3 Chrome users, or there are three or more. The sum of the probabilities of these events is decimal 1. So:

$P(X < 3) + P(X \geq 3) = 1$

$P(X \geq 3) = 1 - P(X < 3)$

In which

$P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)$

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$P(X = 0) = C_{20,0}.(0.2037)^{0}.(0.7963)^{20} = 0.0105$

$P(X = 1) = C_{20,1}.(0.2037)^{1}.(0.7963)^{19} = 0.0538$

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There is an 80.50% probability that at least 3 of the 20 Internet browsers users use Chrome as their Internet browser.

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$E(X) = np$

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The standard deviation is the square root of the variance. So

$\sqrt{Var(X)} = \sqrt{3.2441} = 1.8011$

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</span>

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