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Old 07-30-2007   #1
Karen W
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Default Probability question, is this right?

Chances of being audited are 3 in 100 if income less than 60 000 and 8 in 100 if income more than 60 000a. if 7 taxpayers with income over 60 000 are randomly selected, what is the probability at least 2 of them will be audited?x=2p=0.08n=7 P(2)=___7!____ . (0.08)^2(1-0.08)^7-22!(7-2)!Probability of 2 being audited is 0.0886Is this correct?
Old 07-30-2007   #2
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I'm not sure on the math but on the audit side it would stand to reason that the longer you wait to file your taxes the slimmer your chances would be for a random audit. The IRS audits a certain amount of each bracket level totally at random. If you wait, they would have already started picking out the random ones in the brackets. You will have fewer slots to worry about than if you file early. If the files give you a red flag, you are going to get audited anyway. I do not know if a red flag audit also fills a bracket slot.

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