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8.4 Expecting the Unexpected

8.4 Expecting the Unexpected
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  • Math Help

    You can use a spreadsheet to find the probabilities in Example 6. First, note that and that each factor is less than the previous factor.

    1. Enter 1 into cell A1.
    2. Enter the formula =A1 - 1/1000000 into cell A2.
    3. Select cell A2. From the Edit menu, choose Copy.
    4. Select cells A3 through A365. From the Edit menu, choose Paste.
    5. Enter the formula =PRODUCT(A1:A365) into cell A366.
    6. Enter the formula =1 - A366 into cell A367.
  • Consumer Suggestion

    Lotteries are not just for winning money. Every year the United States holds a lottery to determine which immigrants will receive a green card. This lottery is similar to a state lottery. Immigrants who want to move to the U.S. must register, and if their number is picked then they will win the chance to obtain a United States Visa. Check out this website to read more about the Diversity Visa Lottery, and see a list of what countries are currently eligible to participate in upcoming lotteries.

  • Checkpoint Solution

    As shown in Section 5.2, you can use a spreadsheet to find the amount of state and federal tax you owe.

    1. Federal tax:

      The federal income tax on $500,000 is $152,643.75.

      State tax:

      The state income tax on $500,000 is $45,459.77.

      The total income tax is , making your lump-sum payment equal to

    Sample answer:

    1. Yes, I agree that Americans should pay state income tax on lottery winnings. Lottery winnings are income and should be taxed as such. They are not even earned like regular income, so I think lottery winners should be happy with what they get.
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