Ages of Jockeys the Following Data Represent the Ages in Years

question 53

Essay

Ages of Jockeys The following data represent the ages in years of a sample of 25 jockeys from a local race track: 31, 43, 56, 23, 49, 42, 33, 61, 44, 28, 48, 38, 44, 35, 40, 64, 52, 42, 47, 39, 53, 27, 36, 35, and 20. {Ages of Jockeys Narrative} Construct a relative frequency distribution for the data, using five class intervals and the value 20 as the lower limit of the first class.

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Definitions:

Repair Expense

Costs incurred to fix or maintain property or equipment, generally deductible in the year they are incurred for tax purposes.

IRC Section 179

Allows taxpayers to deduct the cost of certain property as an expense when the property is placed in service (rephrased definition for §179 Expense).

Depreciated

The reduction in the recorded cost of an asset in accounting, reflecting wear and tear, age, or obsolescence.

Ordinary Expense

An expense that is common, accepted, necessary, and appropriate for a business or individual's trade or profession under tax law.