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The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax
The Wall Street Journal reported 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 $16,541. Assume that the standard deviation is a $2097. Use z-table. a. What is the probability that a sample of taxpayers from this income group who have itemized deductions will show a sample mean within 8245 of the population mean for each of the following sample sizes: 30, 50, 100, and 400? Round your answers to four decimals. -30 n 50 -100 -400 b. What is the advantage of a larger sample size when attempting to estimate the population mean? Round your answers to four decimals. A larger sample Select your answer ranges from the probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of being within 245 of for a sample of size 30 to for a sample of size 400.
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