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a. What is the probability that a sample of taxpayers from this income group who have itemized deductions will show a sample mean within $250 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

a. What is the probability that a sample of taxpayers from this income group who have itemized deductions will show a sample mean within $250 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

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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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 mean amount of deductions for this population of taxpayers was $16,137. Assume that the standard deviation is o = $2,397. 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 $250 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 - Select your answer - within a specified distance of the population mean. In the automobile insurance example, the probability of being within +250 of u ranges from the probability that the sample mean will be for a sample of size 30 to for a sample of size 400.
Transcribed Image Text: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 $16,137. Assume that the standard deviation is o = $2,397. 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 $250 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 - Select your answer - within a specified distance of the population mean. In the automobile insurance example, the probability of being within +250 of u ranges from the probability that the sample mean will be for a sample of size 30 to for a sample of size 400.
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