Distribution of the adjusted gross income

Reference no: EM131762226

Question: Income tax returns Here is the distribution of the adjusted gross income (in thousands of dollars) reported on individual federal income tax returns in a recent year:

(a) What is the probability that a randomly chosen return shows an adjusted gross income of $50,000 or more?

(b) Given that a return shows an income of at least $50,000, what is the conditional probability that the income is at least $100,000?

Reference no: EM131762226

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