Question

analyzing tax data
the table presents detailed tax data for 10 individuals, including their respective incomes, taxes paid, deductions, and tax refunds.
tax id | income ($) | tax paid ($) | deductions ($) | tax refund ($)
id001 | 78,340 | 12,640 | 9,120 | 600
id002 | 51,270 | 7,850 | 5,110 | 720
id003 | 114,950 | 23,200 | 11,650 | 1,310
id004 | 88,560 | 14,240 | 9,870 | 860
id005 | 47,380 | 6,750 | 4,750 | 520
id006 | 104,870 | 21,320 | 10,620 | 1,210
id007 | 67,490 | 10,740 | 7,640 | 760
id008 | 83,240 | 13,240 | 9,340 | 920
id009 | 91,760 | 15,210 | 10,120 | 1,010
id010 | 57,210 | 8,740 | 5,740 | 770
what is the mean of the tax refunds in the sample tax data?
$868
$890
$876
$815

Explanation:

Step1: List all tax refund values

The tax refund values are: 600, 720, 1310, 860, 520, 1210, 760, 920, 1010, 770.

Step2: Calculate the sum of these values

Sum = 600 + 720 + 1310 + 860 + 520 + 1210 + 760 + 920 + 1010 + 770
First, add step by step:
600 + 720 = 1320
1320 + 1310 = 2630
2630 + 860 = 3490
3490 + 520 = 4010
4010 + 1210 = 5220
5220 + 760 = 5980
5980 + 920 = 6900
6900 + 1010 = 7910
7910 + 770 = 8680

Step3: Calculate the mean

Mean = Sum / Number of values
Number of values = 10
Mean = 8680 / 10 = 868

Answer:

\$868