Federal Income Tax Returns. The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between$30,000and$60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was$16,642. Assume the standard deviation is σ=$2400. What is the probability that a sample of taxpayers from this in-come group who have itemized deductions will show a sample mean within$200 of the population mean for sample sizes 30?
Federal Income Tax Returns. The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between$30,000and$60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was$16,642. Assume the standard deviation is σ=$2400. What is the probability that a sample of taxpayers from this in-come group who have itemized deductions will show a sample mean within$200 of the population mean for sample sizes 30?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter10: Introduction To Simulation Modeling
Section10.2: Probability Distributions For Input Variables
Problem 2P: Use Excels functions (not @RISK) to generate 1000 random numbers from a normal distribution with...
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Federal Income Tax Returns. The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between$30,000and$60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was$16,642. Assume the standard deviation is σ=$2400.
- What is the probability that a sample of taxpayers from this in-come group who have itemized deductions will show a sample mean within$200 of the population mean for sample sizes 30?
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