Because her standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal government if she follows through on filing her 1040 form?

Generally, if your income is lower than the standard deduction, you will not pay any taxes. But if your employer withheld federal taxes from your paycheck, then you should receive a refund for them. You could also get a refund for certain refundable tax credits, e.g. child tax credit, earned income tax credit, etc. If you do not file your 1040 form, you will get no refund.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

answer decisions made by individual households and firms;