A table on audit status and income is available below. Show how to find the prob

Question

A table on audit status and income is available below. Show how to find the probability of a. Being audited, given that the taxpayer is in the highest income category Being in the highest income category, given that the taxpayer is audited Click the icon to view the table Contingency Table on Audit Status and Income a. Pbeing audited given in highest income category) Audited Income No 09413 0.0471 Yes 00087 0 0008 0 0003 (Round to four decimal places as needed ) $200,000 $200,000-$1mil >$1mi 0 0018 b. Pin highest income category given being audited)- Print Done (Round to four decimal places as needed)

Explanation / Answer

for above :

a)

P(being audited given highest income category)=0.0003/0.0021 =0.1429

b)

P(  highest income category given being audited)=0.0003/0.0098=0.0306

income no yes total <200000 0.9413 0.0087 0.95 200000-1 mil 0.0471 0.0008 0.0479 >1 mil 0.0018 0.0003 0.0021 total 0.9902 0.0098 1

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