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LUCKY_DIMON
3 months ago
6

Chuck has a gross pay of $815.70. By how much will Chuck’s gross pay be reduced if he has the following items withheld?

Mathematics
2 answers:
PIT_PIT [12.4K]3 months ago
8 0

Answer:

Chuck will receive $686.67.

Step-by-step explanation:

Chuck's gross pay amounts to $815.70.

The federal tax is $56.

Social Security tax is 6.2% of his gross pay, resulting in 0.062\times815.70=50.57 dollars.

Medicare tax is 1.45% of his gross pay, equating to 0.0145\times815.70=11.82 dollars.

The state tax is 19% of his federal tax, totaling 0.19\times56=10.64 dollars.

The cumulative deductions equal 56+50.57+11.82+10.64=129.03 dollars.

Thus, Chuck's gross pay will be reduced by $129.03, leading to a net of 815.70-129.03 = $686.67.

tester [12.3K]3 months ago
7 0
Chuck's gross pay will decrease by $129.04.
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Regarding this scenario, we have the following details about the timeframe to organize a return

\mu =90, \sigma =14

And we select a sample size =49>30, and we aim to find the standard deviation for the sample mean. Based on the central limit theorem, we understand that the sample mean distribution \bar X is represented by:

\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}})

The standard deviation would then be:

\sigma_{\bar X} =\frac{14}{\sqrt{49}}= 2

Therefore, the most accurate response would be

b. 2 minutes

Step-by-step explanation:

Prior concepts

Normal distribution, defines a probability distribution that is symmetric around the mean, showing that occurrences near the mean are more frequent than those that are further away.

The central limit theorem states that "when we have a population with mean μ and standard deviation σ and draw sufficiently large random samples from the population with replacement, then the distribution of the sample means will resemble a normal distribution. This applies regardless of whether the original population is normal or skewed, given that the sample size is large enough".

Solution to the problem

For this case, we have the following information about the time to prepare a return

\mu =90, \sigma =14

A sample size =49>30 also indicates that we are focused on determining the standard deviation for the sample mean. Based on the central limit theorem, we recognize that the sample mean distribution \bar X is described by:

\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}})

And subsequently, the standard deviation will be:

\sigma_{\bar X} =\frac{14}{\sqrt{49}}= 2

Hence, the most accurate answer would be

b. 2 minutes

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