What is the conditional probability in given context

Assignment Help Basic Statistics

Reference no: EM131423192

Income tax returns

In a recent year, the Internal Revenue Service received 142,978,806 individual tax returns. Of these, 17,993,498 reported an adjusted gross income of at least $100,000, and 392,220 reported at least $1 million.

If you know that a randomly chosen return shows an income of $100,000 or more, what is the conditional probability that the income is at least $1 million?

Reference no: EM131423192

Questions Cloud

Probability that julie is offered at least one of three jobs : Find the probability of at least one offer. - What is the probability that Julie is offered at least one of the three jobs?

Can tom sue greg in tort for his actions : Can Tom sue Greg in tort for his actions? If so, what torts do you think he committed?. Explain why you think Greg committed the torts

What is the conditional probability that it is a light truck : Given that a vehicle is imported, what is the conditional probability that it is a light truck?- Are the events "vehicle is a light truck" and "vehicle is imported" independent? Justify your answer.

What are the characteristics of effective teams : Create an agenda for a team meeting on a topic of your choice.Draw from your own experience working within a group with the goal of achieving a specific task. You may use your experience as a student working in a group, or develop a plan for a fut..

What is the conditional probability in given context : If you know that a randomly chosen return shows an income of $100,000 or more, what is the conditional probability that the income is at least $1 million?

Examine the components of the test statistic : Using a 1% level of significance test for association between type of pet and type of household.

Discussing a medical malpractice case : Prepare a paper discussing a medical malpractice case using the IRAC (issue, rule, analysis, and conclusion) formula. You will discuss any relevant ethical theories involved and analyze the outcome, applying legal concepts

Whats probability that joes first winning ticket comes : Each day, Joe has probability 0.006 of winning, and he wins (or not) independently of other days because a new drawing is held each day. What is the probability that Joe's first winning ticket comes on the 20th day?

What should john do : The design of successful, ethically produced, new products is a complex task. What should John do?

User Account

All Pages