The Average Annual Household Income Levels of Citizens of Selected

question 17

Essay

The average annual household income levels of citizens of selected U.S. cities are shown below.
-(A) Use Excel^® to obtain a simple random sample of size 10 from this frame.
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(B) Using the sample generated in (A), construct a 95% confidence interval for the mean average annual household income level of citizens in the selected U.S. cities. Assume that the population consists of all average annual household income levels in the given frame.
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(C) Interpret the 95% confidence interval constructed in (B).
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(D) Does the 95% confidence interval contain the actual population mean? If not, explain why not. What proportion of many similarly constructed confidence intervals should include the true population mean value?

Understand the forms and procedures associated with filing federal unemployment taxes.

Calculate the total unemployment taxes an employer must pay on an employee's wages.

Comprehend the concept of FICA taxes and their application in payroll.

Identify and calculate federal income tax withholding based on earnings and allowances.

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