Question: You may need to use the appropriate table( Standard Normal Table )to answer this question. Suppose the CPA Practice Advisor reports that the mean preparation

You may need to use the appropriate table(Standard Normal Table)to answer this question.

Suppose 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.

If you want the probability that the mean price of a random sample offederal income tax returns is within $16 of the population mean to be at least 0.95, what is the smallest possible sample size you should collect?

Round your answer to the nearest integer.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!