Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Question: Many Happy Returns is a tax preparation service with offices located throughout the western United States. Suppose the average number of returns processed by employees of Many Happy Returns during tax season is 12 per day with a standard deviation of 3 per day. A random sample of 36 employees taken during tax season revealed the following number of returns processed daily:

1370_13.png

a. What is the probability of having a sample mean equal to or smaller than the sample mean for this sample if the population mean is 12 processed returns daily with a standard deviation of 3 returns per day?

b. What is the probability of having a sample mean larger than the one obtained from this sample if the population mean is 12 processed returns daily with a standard deviation of 3 returns per day?

c. Explain how it is possible to answer parts a and b when the population distribution of daily tax returns at Many Happy Returns is not known.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92461153
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Compounding and period as you increase the length of time

Compounding and Period: As you increase the length of time involved, what happens to future values? What happens to present values? The present value of annuity will increase as well as the future value when you increase ...

Assume that the coin is weighted so that a tail is 6 times

Assume that the coin is weighted so that a tail is 6 times as likely as a head. The coin is flipped 9 times. 1) What is the probability that both heads and tails occur?

According to a pew research center poll 22 of adult

According to a Pew Research Center poll, 22% of adult Americans have contributed to an online fundraising project. A random sample of 100 adults is selected. Let the random variable X be the number of adult Americans who ...

Question - the data in the table below is from a study

Question - The data in the table below is from a study conducted by an insurance company to determine the effect of changing the process by which insurance claims are approved. The goal was to improve policyholder satisf ...

If the return on stock a in year 1 was 11 in year 2 was

If the return on stock A in year 1 was 11 %, in year 2 was -10 %, in year 3 was -4 % and in year 4 was 2 %, what was the standard deviation of returns for stock A over this four year period? (Round your answer to 1 decim ...

Consider random samples of size 800nbspnbspfrom a

Consider random samples of size 800  from a population with proportion 0.60. (a) Find the mean and standard error of the distribution of sample proportions. Round your answer for the mean to two decimal places, and your ...

1 according to the national health and nutrition

1. According to the National Health and Nutrition Examination Survey, published by the National Center for Health Statistics, the serum (noncellular portion of blood) total cholesterol level of US females 20 years old or ...

How can a graph or chart of data help you understand the

How can a graph or chart of data help you understand the results? What is a frequency table? Describe an example where a frequency table can be used in life.

Help me solve the following1 when there is a significant

Help me solve the following 1) When there is a significant difference in the population, but the research fails to find one ...this is what kind of error? 2) Assume that when victims are asked how well their needs were m ...

Why does a high standard deviation of a stocks rate of

Why does a high standard deviation of a stock's rate of return mean that that stock is risky? Explain. (Hint: Intuitively explain how we calculate standard deviation and what does it mean)

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As