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 $16,872 . Assume that the standard deviation is $2,913 . 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 $234 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. A larger sample - Select your answer -(increases/decreases) the probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of being within +/- 234 of ranges from ____for a sample of size 30 to ____ for a sample of size 400.
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
a. What is the
| n=30 | |
| n=50 | |
| n=100 | |
| n=400 |
b. What is the advantage of a larger
A larger sample - Select your answer -(increases/decreases) the probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of being within +/- 234 of
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