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This Year Kelsi Received a $1,900 Refund of State Income

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This year Kelsi received a $1,900 refund of state income taxes that she paid last year.Last year Kelsi claimed itemized deductions of $7,400 including $2,800 of state income taxes.How much of the refund,if any,must Kelsi include in gross income if the standard deduction last year was $6,300?


Definitions:

Sample Mean

The average value obtained from a sample, a subset of a larger population.

Population Mean

The average of a set of values in the entire population.

Margin of Error

An expression of the extent to which a sample statistic may differ from the true population parameter; it quantifies uncertainty in estimation.

Z Value

A measure in statistics that represents the number of standard deviations a data point is from the mean.

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