Question: USA Today reported the IRS audited 1 in 63 wealthy individuals and families, about 1 of every 107 individuals, 20% of corporations in general, and 44% of the largest corporations with assets of at least $250 million.
a. Calculate the probability that at least 1 wealthy individual in a sample of 10 would be audited.
b. Compute the probability that at least 1 from a sample of 10 corporations with assets of at least $250 million would be audited.
c. Calculate the probability that a randomly chosen wealthy CEO of a corporation with assets of $300 million would be audited or that the corporation would be audited.