Examlex
Herpetologists (snake specialists) found that a certain species of reticulated python has an average length of 20.5 feet with a standard deviation of 2.3 feet. The scientists collect a random sample of 30 adult pythons and measure their lengths. In their sample the mean length was 19.5 feet long. One of the herpetologists fears that pollution might be affecting the natural growth of the pythons. Do you think this sample result is unusually small? Explain.
FICA
Stands for Federal Insurance Contributions Act, specific U.S. legislation that funds Social Security and Medicare through payroll taxes.
Seller Bears
Refers to situations where the seller is responsible for any additional costs or risks associated with a transaction.
FICA Tax
A U.S. federal payroll tax that funds Social Security and Medicare, contributions are made by both employees and employers.
Burden Falls
An economic term referring to how the costs or economic burdens of a policy, tax, or regulation are distributed among various stakeholders.
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