Answer&explanation:
(a) To calculate the probability that the sample mean tax is less than $8000, we need to use the z-score formula. The z-score is calculated by subtracting the sample mean from the population mean and then dividing it by the standard deviation divided by the square root of the sample size.
In this case, the population mean is $8040, the standard deviation is $4500, and the sample size is 1000.
By plugging these values into the formula, we can calculate the z-score. Then, we can use a standard normal distribution table or a calculator to find the probability associated with that z-score.
(b) To calculate the probability that the sample mean tax is between $7400 and $8000, we use the same method as in part (a). However, this time we need to find the z-scores for both values and subtract the probability associated with the lower z-score from the probability associated with the higher z-score.
(c) To find the 60th percentile of the sample mean, we need to find the z-score that corresponds to the cumulative probability of 0.60. We can use a standard normal distribution table or a calculator to find the z-score and then calculate the sample mean using the z-score formula.
(d) To determine if it would be unusual for the sample mean to be less than $7600, we need to calculate the probability of the sample mean being less than $7600 using the z-score formula. If the probability is below a certain threshold (e.g., 0.05 or 5%), we can consider it to be unusual.
(e) To determine if it would be unusual for an individual to pay a tax of less than $7600, we need to calculate the probability of an individual paying a tax of less than $7600 using the z-score formula. If the probability is below a certain threshold (e.g., 0.05 or 5%), we can consider it to be unusual.
Please note that the calculations require the correct values for the population mean and standard deviation. In the given problem, the population mean is $8040, and the standard deviation is $4500. Make sure to use these values in your calculations.