The IRS was interested in the number of individual tax forms prepared by small a

Question

The IRS was interested in the number of individual tax forms prepared by small accounting firms. The IRS randomly sampled 47 public accounting firms with 10 or fewer employees in the Dallas-Fort Worth area. The following frequency table reports the results of the study.

Number of Clients

Frequency

35 up to 45

2

45 up to 55

15

55 up to 65

20

65 up to 75

6

75 up to 85

4

  

  

The IRS was interested in the number of individual tax forms prepared by small accounting firms. The IRS randomly sampled 47 public accounting firms with 10 or fewer employees in the Dallas-Fort Worth area. The following frequency table reports the results of the study.

Explanation / Answer

Consider:

Thus,          
          
Mean = Sum(xf) / Sum(f) =    58.93617021 = 58.94 [ANSWER]   
Variance = [Sum(x^2f) - Sum(xf)^2/Sum(f)]/[Sum(f)-1] =    96.66975023      

Standard deviation = sqrt(Variance) =    9.832077615 = 9.83 [answer]   

Consider the table: x f x f x^2 f 40 2 80 3200 50 15 750 37500 60 20 1200 72000 70 6 420 29400 80 4 320 25600

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