Jane Smith Made $30,000 Last Year and Paid $8,400 in Taxes

question 56

Multiple Choice

Jane Smith made $30,000 last year and paid $8,400 in taxes. What percentage of her income did Jane pay in taxes?

• A) 2.8%
• B) 3.57%
• C) 7.2%
• D) 28%
• E) 72%

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Definitions:

Standard Normal Distribution

A probability distribution that has a mean of zero and a standard deviation of one, used as a basis in inferential statistics.

Probability

A measure of the likelihood that a specific event will occur, often expressed as a number between 0 and 1.

Standard Normal Distribution

A normal distribution with a mean of 0 and a standard deviation of 1.

Random Variable

A variable that can take on different numerical values based on the outcome of a random event.