The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as the population mean and assume the population standard deviation of preparation fees is $100. Use z-table. Round your answers to four decimal places. a. What is the probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean? b. What is the probability that the mean price for a sample of 50 federal income tax returns is within $16 of the population mean? c. What is the probability that the mean price for a sample of 100 federal income tax returns is within $16 of the population mean?
The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as the population mean and assume the population standard deviation of preparation fees is $100. Use z-table. Round your answers to four decimal places. a. What is the probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean? b. What is the probability that the mean price for a sample of 50 federal income tax returns is within $16 of the population mean? c. What is the probability that the mean price for a sample of 100 federal income tax returns is within $16 of the population mean?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Plz answer a,b and c part in 20 minutes please and get thumb up plzzzz
![The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as the population
mean and assume the population standard deviation of preparation fees is $100. Use z-table.
Round your answers to four decimal places.
a. What is the probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean?
b. What is the probability that the mean price for a sample of 50 federal income tax returns is within $16 of the population mean?
c. What is the probability that the mean price for a sample of 100 federal income tax returns is within $16 of the population mean?
d. Which, if any, of the sample sizes in parts (a), (b), and (c) would you recommend to have at least a 0.95 probability that the sample mean is
within $16 of the population mean?
Select your answer -](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff798e039-0f25-41eb-a9d7-7ec54a077992%2Fb1aa2476-3ead-436a-9116-c4cfef50f0d1%2Fmxcmdfn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as the population
mean and assume the population standard deviation of preparation fees is $100. Use z-table.
Round your answers to four decimal places.
a. What is the probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean?
b. What is the probability that the mean price for a sample of 50 federal income tax returns is within $16 of the population mean?
c. What is the probability that the mean price for a sample of 100 federal income tax returns is within $16 of the population mean?
d. Which, if any, of the sample sizes in parts (a), (b), and (c) would you recommend to have at least a 0.95 probability that the sample mean is
within $16 of the population mean?
Select your answer -
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