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(d) Would it be unusual if the sample mean were less than $7700? (e) Do you think it would be unusual for an individual to pay a tax of less than $7700? Explain.

(d) Would it be unusual if the sample mean were less than $7700? (e) Do you think it would be unusual for an individual to pay a tax of less than $7700? Explain.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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5)The Internal Revenue Service reports that the mean federal income tax paid in the year was $8040. Assume that the standard deviation is $4800. The IRS plans to draw a sample of 1000 tax returns to study the effect of a new tax law. (a) What is the probability that the sample mean tax is less than $8200 ? (b) What is the probability that the sample mean tax is between $7400 and $7900 ? (c) Find the 20 th percentile of the sample mean.
Transcribed Image Text:5)The Internal Revenue Service reports that the mean federal income tax paid in the year was $8040. Assume that the standard deviation is $4800. The IRS plans to draw a sample of 1000 tax returns to study the effect of a new tax law. (a) What is the probability that the sample mean tax is less than $8200 ? (b) What is the probability that the sample mean tax is between $7400 and $7900 ? (c) Find the 20 th percentile of the sample mean.
(d) Would it be unusual if the sample mean were less than $7700? (e) Do you think it would be unusual for an individual to pay a tax of less than $7700? Explain. 8
Transcribed Image Text:(d) Would it be unusual if the sample mean were less than $7700? (e) Do you think it would be unusual for an individual to pay a tax of less than $7700? Explain. 8
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