According to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,072 in 2018. Consider the population of "last-minute" filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15). a. A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. Develop appropriate hypotheses such that rejection of Ho will support the researcher's contention. Ho: u is less than or equal to 1,072 H:u is Select your answer- b. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $920. Based on prior experience a population standard deviation of o = $1,600 may be assumed. What is the p-value (to 4 decimals)? c. Using a = 0.05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? - Select your answer - d. Repeat the preceding hypothesis test using the critical value approach. Using a = 0.05, what is the critical value for the test statistic (to 3 decimals)? Enter negative vakue as negative number. State the rejection rule: Reject Ho if z is Select your answer - the critical value. Using the critical value approach, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? - Select your answer -
According to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,072 in 2018. Consider the population of "last-minute" filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15). a. A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. Develop appropriate hypotheses such that rejection of Ho will support the researcher's contention. Ho: u is less than or equal to 1,072 H:u is Select your answer- b. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $920. Based on prior experience a population standard deviation of o = $1,600 may be assumed. What is the p-value (to 4 decimals)? c. Using a = 0.05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? - Select your answer - d. Repeat the preceding hypothesis test using the critical value approach. Using a = 0.05, what is the critical value for the test statistic (to 3 decimals)? Enter negative vakue as negative number. State the rejection rule: Reject Ho if z is Select your answer - the critical value. Using the critical value approach, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? - Select your answer -
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Transcribed Image Text:According to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,072 in 2018. Consider the population of "last-minute" filers who mail
their tax return during the last five days of the income tax period (typically April 10 to April 15).
a. A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. Develop appropriate hypotheses
such that rejection of Ho will support the researcher's contention.
Ho: u is less than or equal to 1,072
Ha: H is
Select your answer-
b. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $920. Based on prior experience a population standard deviation of
o = $1,600 may be assumed. What is the p-value (to 4 decimals)?
c. Using a = 0.05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers?
- Select your answer - :
d. Repeat the preceding hypothesis test using the critical value approach.
Using a = 0.05, what is the critical value for the test statistic (to 3 decimals)? Enter negative value as negative number.
State the rejection rule: Reject Ho if z is
Select your answer -
e the critical value.
Using the critical value approach, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers?
- Select your answer -
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