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Question 5 (9 points)
A tax assessor wants to assess the mean property tax bill for all homeowners in
Madison, Wisconsin. The population standard deviation is $1000. A survey ten years
ago got a sample mean of $1400. Be sure to show the set up of each calculation.
a. How many tax records should be sampled for a 90% confidence interval to have a
margin of error of $100?
b. Assume a sample size of 50. Calculate a 90% confidence interval for the mean
property tax bill rounded to two decimal places.
c. Explain the meaning of the confidence interval computed in part (b) in terms of the
variable described in the problem.
