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1. Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. Consider the population of last minute filers who mail their tax return “late" in April. A researcher suggests that a reason individuals wait until the last minute is that on average these individuals receive lower refunds than do early filers. For a sample of 400 individuals who filed a tax return in April, the sample mean refund was $910. Based on prior experience a population standard deviation of o = $1600 may be assumed. b. At a = 0.05, test your hypothesis. c. What is your conclusion? Explain in the context of the problem.

1. Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. Consider the population of last minute filers who mail their tax return “late" in April. A researcher suggests that a reason individuals wait until the last minute is that on average these individuals receive lower refunds than do early filers. For a sample of 400 individuals who filed a tax return in April, the sample mean refund was $910. Based on prior experience a population standard deviation of o = $1600 may be assumed. b. At a = 0.05, test your hypothesis. c. What is your conclusion? Explain in the context of the problem.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
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b. At α = 0.05, test your hypothesis.

1. Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. Consider the population of last minute filers who mail their tax return "late" in April. A researcher suggests that a reason individuals wait until the last minute is that on average these individuals receive lower refunds than do early filers. For a sample of 400 individuals who filed a tax return in April, the sample mean refund was $910. Based on prior experience a population standard deviation of o = $1600 may be assumed. a b. At a = 0.05, test your hypothesis. c. What is your conclusion? Explain in the context of the problem.
Transcribed Image Text:1. Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. Consider the population of last minute filers who mail their tax return "late" in April. A researcher suggests that a reason individuals wait until the last minute is that on average these individuals receive lower refunds than do early filers. For a sample of 400 individuals who filed a tax return in April, the sample mean refund was $910. Based on prior experience a population standard deviation of o = $1600 may be assumed. a b. At a = 0.05, test your hypothesis. c. What is your conclusion? Explain in the context of the problem.
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