Question: The CPA Practice Advisor reports that the mean preparation fee for 2017federal income tax returns was$273. Use this price as the population mean and assume
The CPA Practice Advisor reports that the mean preparation fee for 2017federal income tax returns was$273. Use this price as the population mean and assume the population standard deviation of preparation fees is$100. Usez-table.
Round your answers to four decimal places.
a.What is the probability that the mean price for a sample of30federal income tax returns is within$16of the population mean?
b.What is the probability that the mean price for a sample of50federal income tax returns is within$16of the population mean?
c.What is the probability that the mean price for a sample of100federal income tax returns is within$16of the population mean?
d.Which, if any, of the sample sizes in parts (a), (b), and (c) would you recommend to have at least aprobability that the sample mean is withinof the population mean?
- Select your answer -Sample of 30 federal income tax returnsSample of 50 federal income tax returnsSample of 100 federal income tax returnsNone of the sample sizes in parts (a), (b), and (c) are large enough.All of the sample sizes in parts (a), (b), and (c) are large enough.
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