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. What is the probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean? What is the probability that the mean price for a sample of 50 federal income tax returns is within $16 of the population mean? 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
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What is the
probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean? -
What is the probability that the mean price for a sample of 50 federal income tax returns is within $16 of the population mean?
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What is the probability that the mean price for a sample of 100 federal income tax returns is within $16 of the population mean?
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Which, if any, of the
sample sizes in parts (a), (b), and (c) would you recommend to ensure at least a .95 probability that the sample mean is within $16 of the population mean?
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