Problem regarding the central limit theorem

Reference no: EM13975421

In 2009, the average fee paid by H&R Block tax preparation customers was $187. Assume that the standard deviation of fees was $60 but that we have no idea regarding the shape of the population distribution.

Source: hrblock.com, July 14, 2009.

a. What additional assumption about the population would be needed in order to use the standard normal table in determining the probability that the mean fee for a simple random sample of 5 customers was less than $170?

b. What is the probability that the mean fee for a simple random sample of 36 customers was less than $170? What role does the central limit theorem play in making it possible to determine this probability?

Reference no: EM13975421

Questions Cloud

Find the net torque on the wheel : Find the net torque on the wheel in the figure below about the axle through O, taking a = 11.0 cm and b = 27.0 cm. (Assume that the positive direction is counterclockwise.)

Differentiating the equation with respect to pa : How would I go about differentiating the following equation with respect to PA?

Find the percentage of the total work lost to friction : Find the percentage of the total work lost to friction if 26.9 J of work is put into pushing a block up a ramp resulting in 16.5 J of stored potential energy at the top.

Find the ratio of the rotational inertia of the earth : Find the ratio of the rotational inertia of the Earth for rotation about its own axis to its rotational inertia for rotation about the Sun. (Give your answer in terms of RE, the radius of the Earth, and Ro, the radius of Earth's orbit about the su..

Problem regarding the central limit theorem : What is the probability that the mean fee for a simple random sample of 36 customers was less than $170? What role does the central limit theorem play in making it possible to determine this probability?

Describe your negotiation style : 1) Describe your negotiation style. How do you think you could be a more effective negotiator? 2) One item that our text neglected to mention in the container security initiative (CSI) is the lock. Do a short internet search on this lock thing. What ..

Write a matlab code of cubic spline method : To write a MATLAB code of cubic spline method to find out the value of a function at certain point while we are given a set of data points.

Find corresponding slit width for a diffraction experiment : Find the slit separation for a double-slit experiment that will produce interference finges that are 0.0180 rad apart on a distant screen when the light has a wavelength λ= 590nm. Find the corresponding slit width for a diffraction experiment with ..

Define intellectual property and global information : Intellectual Property and Information.(a) Define Intellectual Property and Global Information in an IT context. How are intellectual property rights in conflict with the globalization of information?

User Account

All Pages