Question
Federal Income Tax Returns. The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their
Federal Income Tax Returns.
The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was $16,642. Assume that the standard deviation is $2,400
a. What are the sampling distributions of x for itemized deductions for this population of taxpayers for each of the following sample sizes: 30, 50, 100, and 400?
b. What is the advantage of a larger sample size when attempting to estimate the population mean?
How can I calculate this in excel?
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