Question

the table presents detailed tax data for 10 individuals, including their respective incomes, taxes paid, deductions, and tax refunds.
if the income of id003 (originally $114, 950) was entered incorrectly and should be $100, 000, what would be the new mean income?
enter your answer in the box.
$\square$

Explanation:

Step1: Calculate original total income

$$\begin{align*} &78340 + 51270 + 114950 + 88560 + 47380 + 104870 + 67490 + 83240 + 91760 + 57210\\ =& 78340+51270=129610\\ &129610+114950=244560\\ &244560+88560=333120\\ &333120+47380=380500\\ &380500+104870=485370\\ &485370+67490=552860\\ &552860+83240=636100\\ &636100+91760=727860\\ &727860+57210=785070 \end{align*}$$

Step2: Adjust total income for ID003

$785070 - 114950 + 100000 = 770120$

Step3: Calculate new mean income

$\frac{770120}{10} = 77012$

Answer:

$\$77,012$