Chrome File Edit View History Bookmarks People Window Help Eu.s. 22%D Sun Oct 15

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Chrome File Edit View History Bookmarks People Window Help Eu.s. 22%D Sun Oct 15 8:41 PM E MindTap Cengage Learning ng.cengage.com/static/nb/ui/index.html?nbld-61 4983&nbNodeld-2255761; 93&deploymentId;:573600771 1401763061 5688974&eISBN;:97813371153774|&parentld-225576570; MINDTAP Chapter 7 Assignment Due Today at 11:59 PM EDT Activity Information Save Submit Assignment for Grading Questions Exercise 07.25 s Question 7 of 8 S. Check My Work 6. 8. The mean preparation fee H&R; Block charged retail customers in 2012 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 850. Use z-table 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? None of the sample sizes in parts (a), (b), and (c) are large. i Hide Feedback 15

Explanation / Answer

From the normal probability distribution calculator, the corresponding probabilities will be:

a) 0.6192

b) 0.7421

c) 0.8904

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