In: Statistics and Probability
Let
denotes the sample mean of federal income tax paid for a a sample
of 1000 tax returns.
or
a) The probability that the sample mean tax is less than $8000
b) The probability that the sample mean tax is between $7600 & $7900
c) To find 40th percentile of the sample mean
d) The probability that the sample mean tax is less than $7500
e) Since
is quite low, so it will be unusual for an individual to pay tax
of less than $7500.