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The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and...

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Statistics

The Wall Street Journal reported that 33% of taxpayers withadjusted gross incomes between $30,000 and $60,000 itemizeddeductions on their federal income tax return. The mean amount ofdeductions for this population of taxpayers was $16,675 . Assumethat the standard deviation is $2,645 . Use z-table. a. What is theprobability that a sample of taxpayers from this income group whohave itemized deductions will show a sample mean within $194 of thepopulation mean for each of the following sample sizes: 30, 50,100, and 400? Round your answers to four decimals.

What is the advantage of a larger sample size when attempting toestimate the population mean? Round your answers to fourdecimals.

A larger sample - Select your answer -increasesdecreasesItem 5the probability that the sample mean will be within a specifieddistance of the population mean. In the automobile insuranceexample, the probability of being within +-194 of  rangesfrom  for a sample of size 30 to  for a sampleof size 400 .

Answer & Explanation Solved by verified expert
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The probability of sample mean within 194 of the populationmean isConverting to standard normal distributionFor    See Answer
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