Answered step by step
Verified Expert Solution
Question
1 Approved Answer
An income tax preparer wants to be 99 percent sure that the error is at most 2 minutes in estimating the average time it take
An income tax preparer wants to be 99 percent sure that the error is at most 2 minutes in estimating the average time it take to prepare a simple tax return. If the standard deviation of the preparation time is assumed to be 2.5 minutes, how large a sample should the tax preparer base this estimate?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started