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The mean preparation fee H&R Block charged retail customers in 2012 was $183 (The Wall Street Journal,...

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Statistics


Themean preparation fee H&R Block charged retail customers in 2012was $183 (The Wall Street Journal, March 7, 2012). Use this priceas the population mean and assume the population standard deviationof preparation fees is $50. a. What is the probability that themean price for a sample of 30 H&R Block retail
customers is within $8 of the population mean? b. What is theprobability that the mean price for a sample of 50 H&R Blockretail
customers is within $8 of the population mean? c. What is theprobability that the mean price for a sample of 100 H&R Blockretail
customers is within $8 of the population mean? d. Which, if any, ofthe sample sizes in parts (a), (b), and (c) would you recommendto
haveat least a .95 probability that the sample mean is within $8 of thepopulation mean?

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