Descriptive Statistics

question 16

Multiple Choice

Descriptive statistics:

• A)Tell us the probability that a given result can be attributed to chance.
• B)Can include frequency distributions or measures of central tendency and dispersion.
• C)Typically involve analysis of variance (ANOVA).
• D)All of these.

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Definitions:

Average Tax Rate

The percentage of total income that is paid as tax, calculated by dividing the total tax amount by the total income.

Marginal Tax Rate

The rate at which the next dollar of taxable income is taxed; refers to the percentage of tax applied to the last dollar earned.

Tax Base

The total amount of assets or income that can be taxed by a government, providing a source of revenue.