There Are 7 Children in a Family

question 57

Multiple Choice

There are 7 children in a family. The number of children defines a population. The number of simple random samples of size 2 (without replacement) which are possible equals

• A) 14.
• B) 21.
• C) 5.
• D) 42.

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Definitions:

Taxable Income

Income that is subject to taxation, after all allowed deductions and exemptions are subtracted from gross income.

U.S. Tax Liability

The total amount of tax owed to the federal government by an individual or entity.

Foreign Income Taxes

Taxes paid to a foreign government on income earned from sources within that foreign country.

Retirement Savings Contributions Credit

A tax credit offered to lower-income individuals to encourage retirement savings, reducing tax liability for eligible contributions to retirement accounts.