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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 return.
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 $16,715. Assume that the standard deviation is 0' = $2485. 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 $167 of the population mean for each of the following sample sizes: 30, 50, 100, and 400? Round your answers to four decimals. n=30 n=50 n=100 n=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 the probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of being within :l:167 of It ranges from for a sample of size 30 to for a sample of size 400
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