A random sample of 40 taxpayers with adjusted gross incomes of between $100,000 and $200,000 was drawn.
Question:
A random sample of 40 taxpayers with adjusted gross incomes of between $100,000 and $200,000 was drawn. These taxpayers claimed an average of $9,922 in medical expenses for the year. Assume the population standard deviation for these deductions was $2,400.
Construct confidence intervals to estimate the average deduction for the population with the following levels of significance:
a. 2%
b. 5%
c. 10%
AppendixLO1
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