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X is a exponentially distributed random variable with a mean of 10. Use Excel to calculate the following:
a.P(x 15)
b.P(8 x 12)
c.P(x 8)
FICA Tax Rate
The combined rate for Social Security and Medicare taxes that both employers and employees pay, based on a percentage of employees' wages.
Unemployment Taxes
Taxes that employers are required to pay to the government, which are used to fund unemployment benefits for workers who have lost their jobs.
Overtime Pay
Additional compensation paid to employees for hours worked beyond the standard workweek.
Payroll Register
A record that summarizes the wages, deductions, and net pay of all employees for each pay period.
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