(Steps Shown) Do problem 18 on page 281. (4 points) According to an IRS study, it takes a mean of 350 minutes for taxpayers to prepare, copy, and electronically
Question: Do problem 18 on page 281. (4 points)
According to an IRS study, it takes a mean of 350 minutes for taxpayers to prepare, copy, and electronically file a 1040 form. This distribution of times follows the normal distribution and the standard deviation is 80 minutes. A consumer watchdog agency selects a random sample of 40 taxpayers.
- What is the standard error of the mean in this example?
- What is the likelihood the sample mean is greater than 320 minutes?
- What is the likelihood the sample mean is between 320 and 350 minutes?
- What is the likelihood the sample mean is greater than 350 minutes?
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