The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized

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The Wall Street Journal Reported That 33 Of Taxpayers With Adjusted Gross Incomes Between 30 000 And 60 000 Itemized 1 (108.73 KiB) Viewed 28 times

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 $17,784. Assume that the standard deviation is o = $2998. 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 $153 of the population mean for each of the following sample sizes: 30, 50, 100, and 400? Round your answers to four decimals. n = 30 .3544 n=50 .4514 n= 100 .5990 n= 400 .9090 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 increases the probability that the sample mean will be within a specified distance of the population mean. In this instance, the probability of being within +153 of fi ranges from .3544 for a sample of size 30 to .9090 for a sample of size 400.