The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 temized deductions on their federal income tax return. The mean amount of deductions for this population of caxpayers 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 vour answers to four decimals. n = 30 n = 50 n = 100 n = 400 p. What is the advantage of a larger sample size when attempting to estimate the population mean? Round your answers to four decimals.

The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 temized deductions on their federal income tax return. The mean amount of deductions for this population of caxpayers 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 vour answers to four decimals. n = 30 n = 50 n = 100 n = 400 p. What is the advantage of a larger sample size when attempting to estimate the population mean? Round your answers to four decimals.

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...

See similar textbooks

Similar questions

Suppose that the distance of fly balls hit to the outfield (in baseball) is normally distributed with a mean of 253 feet and a standard deviation of 45 feet.Use your graphing calculator to answer the following questions. Write your answers in percent form. Round your answers to the nearest tenth of a percent.a) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled fewer than 216 feet? PP(fewer than 216 feet) = ______% b) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled more than 246 feet? PP(more than 246 feet) = ________%
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 this age group spends less than $1,000 per year for entertainment?
Suppose that the distance of fly balls hit to the outfield (in baseball) is normally distributed with a mean of 256 feet and a standard deviation of 53 feet. Use your graphing calculator to answer the following questions. Write your answers in percent form. Round your answers to the nearest tenth of a percent. a) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled fewer than 192 feet? P(fewer than 192 feet) = % b) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled more than 204 feet? P(more than 204 feet) = %
the average sales price of a single-family house in the U.S. is $235,500. you randomly select 12 single family houses. what is the probability that the mean sales price is more than $225,000? assume that the prices are normally distrubuted with a standard deviation of $50,000.
The standard deviation for actuary salaries is o = $38,590. You collect a simple random sample of n = 147 salaries and find that = $123,239. What is the point estimate for the true mean actuary salary? (Round your answer to the nearest whole dollar.)
According to the U.S. Bureau of Labor Statistics, all workers in America who had a bachelor's degree and were employed earned an average of $1152 a week in 2010. A recent sample of 676 American workers who have a bachelor's degree showed that they earn an average of $1171 per week. Assume that the population standard deviation is $165. Test the claim that the current mean weekly earnings of American workers with a bachelor's degree is greater than $1152. Show all the steps of a hypothesis test.
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 report announced that the median sales price of new houses sold one year was $231,000, and the mean sales price was $273,700. Assume that the standard deviation of the prices is $80,000. If you select a random sample of n=100, what is the probability that the sample mean will be betwee $275,000 and $285,000? round to four decimal places
A dataset from 1987 contains information about credit card applications and approvals for 690 applicants. We are interested in looking at the amount of debt across industries, specifically between information technology, healthcare, real estate, and education. The following values are scaled down for ease of analysis. From the sample, 45 are in information technology with an average of $4.03 dollars in debt and a standard deviation of $3.88. 52 are in the healthcare industry with an average of $5.84 dollars in debt and a standard deviation of $6.58. 30 are in real estate with an average of $4.79 dollars in debt and a standard deviation of $5.43. 30 are in education with an average of $8.21 dollars in debt and a standard deviation of $6.25. Fill in the hypotheses below: Ho: All the means are equal. Ha: At least one mean is different from the others. ✓ Part 2 of 3 Complete the following ANOVA summary table (a = 0.01). Round your answers to three decimal places, if necessary, and round…
A group consists of 5 Democrats and 8 Republicans. 7 people are selected to attend a conference.a. In how many ways can 7 people be selected from this group of 13?b. In how many ways can 7 Republicans be selected from the 8 Republicans?c. Find the probability that the selected group will consist of all Republicans.
Suppose that the distance of fly balls hit to the outfield (in baseball) is normally distributed with a mean of 245 feet and a standard deviation of 54 feet.Use your graphing calculator to answer the following questions. Write your answers in percent form. Round your answers to the nearest tenth of a percent.a) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled fewer than 204 feet? PP(fewer than 204 feet) = b) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled more than 234 feet? PP(more than 234 feet) =
Suppose that the distance of fly balls hit to the outfield (in baseball) is normally distributed with a mean of 242 feet and a standard deviation of 46 feet.Use your graphing calculator to answer the following questions. Write your answers in percent form. Round your answers to the nearest tenth of a percent. a) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled fewer than 204 feet? P(fewer than 204 feet) = ____% b) If one fly ball is randomly chosen from this distribution, what is the probability that this ball traveled more than 234 feet? P(more than 234 feet) = ______%