A tax assessor wants to estimate the mean property tax bill for all (1) homeowners living in Madison, Wisconsin. A survey completed three years ago indicated that the mean and standard deviation were...


A tax assessor wants to estimate the mean property tax bill for all<br>(1)<br>homeowners living in Madison, Wisconsin. A survey completed three years<br>ago indicated that the mean and standard deviation were $1200 and $1000.<br>Assuming that the standard deviation is still about $1000, how large a sample<br>of tax records should the tax assessor take in order to estimate the mean<br>correct to within $100 with probability o.85?<br>

Extracted text: A tax assessor wants to estimate the mean property tax bill for all (1) homeowners living in Madison, Wisconsin. A survey completed three years ago indicated that the mean and standard deviation were $1200 and $1000. Assuming that the standard deviation is still about $1000, how large a sample of tax records should the tax assessor take in order to estimate the mean correct to within $100 with probability o.85?

Jun 01, 2022
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