Steve Is a Full-Time Exempt Employee at a Local Electricity

question 15

Multiple Choice

Steve is a full-time exempt employee at a local electricity co-operative.He earns an annual salary of $43,325 and is paid biweekly.What is his Social Security tax deduction for each pay period? (Do not round intermediate calculations.Round your final answer to 2 decimal places. )

• A)$123.95
• B)$103.31
• C)$98.67
• D)$106.34

---

Definitions:

Standard deviation

A measure that quantifies the amount of variation or dispersion of a set of data values.

Population standard deviation

A measure of the dispersion of a set of data from its mean, calculated for the entire population.

Confidence interval

A range of values, derived from the sample statistics, that is likely to contain the value of an unknown population parameter.

Confidence interval

An estimated range of values calculated from sample data that is likely to include the true population parameter with a specified level of confidence.