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 $17,652. Assume that the standard deviation is σ = $2,360. 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 $225 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 = 400b. 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 ±225 of μ ranges from ______ for a sample of size 30 to ______ for a sample of size 400.

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Answered: The Wall Street Journal reported that…

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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Based on research conducted by the government on people aged 25 to 34 years, on average, people in that age group spend $1,994 of their annual income on entertainment. Assume that the data are normally distributed with a standard deviation of $450. What percentage of the population in that age group spends between $2,500 and $3,000 per year for entertainment?
A large corporation employs 21,995 individuals. The average income of all employees is $64,372, with a standard deviation of $18,985 and is skewed to the right. Consider this to be the population distribution. You are given a data set consisting of the incomes of 180 randomly selected employees. What is the population standard deviation?
For a sample of 120 businesses, the average profit they generate in a month is $54,000 with a standard deviation of $8,800. Find the sample standard deviation for the distribution.
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Internet providers: In a survey of 992 homeowners with high-speed Internet, the average monthly cost of a high-speed Internet plan was $65.8 with standard deviation $11.14. Assume the plan costs to be approximately bell-shaped. Estimate t number of plans that cost between $43.52 and $88.08. Round to the nearest whole number. The number of plans that cost between $43.52 and $88.08 is
One year, the distribution of salaries for professional sports players had mean $1.6 million and standard deviation $0.81 million. Suppose a sample of 100 major league players was taken. Find the approximate probability that the average salary of the 100 players that year exceeded $1.7 million. Round your answer to nearest ten-thousandth.
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 $17,908. Assume that the standard deviation is o = : $2,838. 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 $195 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 п 3D 100 п 3D 400 b. What is the advantage of a larger sample size when attempting to estimate the population mean? Round your answers to four decimals. - Select your answer - v the probability that the sample mean will be within a specified distance of the A larger sample population mean. In the automobile insurance example, the probability of being within ±195 of µ ranges from for a sample of size 30 to for a…
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 $16,772. Assume that the standard deviation is o = $2321. 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 $198 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. the A larger sample increases being within +198 of ranges from probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of for a sample of size 30 to for a sample of size 400.
According to Chebyshev's Rule, at least what percent of observations must be within 2.5 standard deviations from the mean? [a]%
Approximately 10% of people in the U.S. earn an income of $200,000 per year or higher. If income were normally distributed, and the mean income is $40,000 per year, what is the standard deviation of income in the U.S.? (Note. these figures are not accurate.)
The following data represent the number of people aged 25 to 64 years covered by health insurance (private or government) in 2018. Approximate the mean and standard deviation for age. Age Number (millions) 25-34 35-44 45-54 55-64 23.2 36.4 35.4 21.6 (Type an integer or decimal rounded to two decimal places as needed.) (Type an integer or decimal rounded to two decimal places as needed.)

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