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Get Full Access to Contemporary Mathematics - 6 Edition - Chapter 9 - Problem 24
Get Full Access to Contemporary Mathematics - 6 Edition - Chapter 9 - Problem 24

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# Ransford Alda is a self-employed security consultant with estimated annual earnings of

ISBN: 9780538481267 378

## Solution for problem 24 Chapter 9

Contemporary Mathematics | 6th Edition

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Problem 24

Ransford Alda is a self-employed security consultant with estimated annual earnings of \$90,000. His social security tax rate is 12.4%, Medicare is 2.9%, and his federal income tax rate is 14%. a. How much estimated tax must Ransford send to the IRS each quarter? b. What form should he use?

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Statistics: Chapter 3.1 1. Mean: average of a set of numbers a. (sum of all data values) / (number of values) b. Mean = (Σx) / (n) i. Let x be a quantitative variable with n measured data value from a population of n. c. Example: i. 10, 15, 20, 25….625 ii. (n+1) / 2 iii. “n” : position of the middle number (n odd) between the position of the two middle numbers ( n even ) iv. Mean: 1. Sample Mean = x = Σx / n (statistic) 2. Population Mean = μ = Σx / n (parameter) 2. Median: Middle data value (the central value of an order distribution) a. Median = (sum of the values / 2) b. Example: i. 10, 14, 20, 8, 10, 16, 30, 12 ii. Put these numbers in order iii. 8, 10, 10, 12, 14, 16, 20, 30 iv. Median = (12 + 14) / 2 = 13 3. Mode: Most frequent data value (data value with highest frequency) a. Example: AAA BBB CC i. Since both A and B occur most equally, there is no mode of the data 4. Detecing Skewness a. Symmetirical Distribution = mean ≈ median ≈ mode b. Left Skewed = mean < median < mode c. Right Skewed = mode < median < mean 5. Trimmed Mean a. 1, [1, 1, 1, 2, 2, 2, 3, 3, 3, 8, 9, 25, 26, 26, 26, 30, 50,] 100 b. n = 20

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