For the year 2010, 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 $16,642. Assume that the standard deviation is σ = $2,280. If required, round your answer to two decimal places. (a) What are the sampling distributions of x for itemized deductions for this population of taxpayers for each of the following sample sizes: 30, 50, 100, and 400? E(x) = $ n σ(x) 30 $ 50 $ 100 $ 400 $ (b) What is the advantage of a larger sample size when attempting to estimate the population mean? A larger sample - Select your answer -increasesdoes not changereducesItem 6 the standard error and results in a - Select your answer -moreequallylessItem 7 precise estimate of the population
For the year 2010, 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 $16,642. Assume that the standard deviation is σ = $2,280. If required, round your answer to two decimal places. (a) What are the sampling distributions of x for itemized deductions for this population of taxpayers for each of the following sample sizes: 30, 50, 100, and 400? E(x) = $ n σ(x) 30 $ 50 $ 100 $ 400 $ (b) What is the advantage of a larger sample size when attempting to estimate the population mean? A larger sample - Select your answer -increasesdoes not changereducesItem 6 the standard error and results in a - Select your answer -moreequallylessItem 7 precise estimate of the population
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For the year 2010, 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 $16,642. Assume that the standard deviation is σ = $2,280. If required, round your answer to two decimal places.
| (a) | What are the sampling distributions of x for itemized deductions for this population of taxpayers for each of the following sample sizes: 30, 50, 100, and 400? | ||||||||||
| E(x) = $ | |||||||||||
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| (b) | What is the advantage of a larger |
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| A larger sample - Select your answer -increasesdoes not changereducesItem 6 the standard error and results in a - Select your answer -moreequallylessItem 7 precise estimate of the population mean. |
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