18. According to an IRS study, it takes an average of 330 minutes for taxpayers to prepare, copy, and electronically file a 1040 tax form. A consumer watchdog agency selects a random sample of 40 taxpayers and finds the standard deviation of the time to prepare, copy, and electronically file form 1040 is 80 minutes.

a. What assumption or assumptions do you need to make about the shape of the population?
b. What is the standard error of the mean in this example?
c. What is the likelihood the sample mean is greater than 320 minutes?
d. What is the likelihood the sample mean is between 320 and 350 minutes?
e. What is the likelihood the sample mean is greater than 350 minutes?

... General rules for calculating probabilities Type of probability Identification Computation method Marginal Probability of Number of events under some stand ...

Probability and Standard Deviation. ... a. Develop a joint probability table b. Determine the probability of a female worker being a manager or professional. ...

... Three tables listed below show random variables and their probabilities. However, only one of these is actually a probability distribution. (a) Which is it? ...

... The two alternators are independent of one another. The probability that both will fail is found by multiplying the individual probabilities together: ...

... The solution provides step by step method for the calculation of mean, variance, standard deviation of a probability distribution and binomial probabilities. ...