If a Property Transaction Is Scheduled to Close on May

question 23

Multiple Choice

If a property transaction is scheduled to close on May 14ᵗʰ, calculate the individual tax responsibility for the buyer if the total tax owed at the end of the year is $5,000. For this problem, assume that we are dealing with a 365 day calendar year.

• A) $0.00
• B) $1,821.92
• C) $3,178.08
• D) $5,000.00

---

Definitions:

Multiple Logistic Regression

A statistical technique used to model the probability of a certain class or event existing such as pass/fail, win/lose, alive/dead, based on multiple independent variables.

Explanatory Variables

Variables in a statistical model that are manipulated or chosen to determine their effect on the response variables of interest.

Logistic Regression

A statistical method for predicting binary outcomes by modeling the probability of a variable based on its logarithm.

Logistic Regression Model

A statistical method used for analyzing a dataset in which there are one or more independent variables that determine an outcome. The outcome is measured with a dichotomous variable (where there are only two possible outcomes).