Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

image text in transcribed
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 $17,087. Assume that the standard deviation is o - $2531. 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 $202 of the population mean for each of the following sample sizes: 30, 50, 100, and 400? Round your answers to four decimals. n = 30 1 = 50 n = 100 7 - 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 the probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of being within :202 of a ranges from for a sample of size 30 to for a sample of size 400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Combinatorial Dynamics And Entropy In Dimension One

Authors: Lluis Alseda, Jaume Llibre, Michal Misiurewicz

1st Edition

9810213441, 9789810213442

More Books

Students also viewed these Mathematics questions