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The mean tax-return preparation fee H&R Block charged retail customers last year was $183 (The Wall Street Journal, March 7, 2012). Use this price as the population mean and assume the population standard deviation of preparation fees is $50.

Round your answers to four decimal places.

a. What is the probability that the mean price for a sample of 30 H&R Block retail customers is within $8 of the population mean?

b. What is the probability that the mean price for a sample of 50 H&R Block retail customers is within $8 of the population mean?

c. What is the probability that the mean price for a sample of 100 H&R Block retail customers is within $8 of the population mean?

d. Which, if any, of the sample sizes in parts (a), (b), and (c) would you recommend to have at least a .95 probability that the sample mean is within $8 of the population mean?

  1. 👍 2
  2. 👎 0
  3. 👁 2,693
  1. oruhiuteairs

    1. 👍 0
    2. 👎 4
  2. 145

    1. 👍 0
    2. 👎 2
  3. 676

    1. 👍 0
    2. 👎 3
  4. A. .6212

    1. 👍 10
    2. 👎 1

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