For a sample of 400 individuals who filed a tax return between April 10th and 15th, the sample mean refund was $930. Based on prior experience a population standard deviation of $1600 may be assumed. What is the p-value (to 4 decimals)? Q Search thls couhapter 9According to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,070 in 2018. Consider thepopulation 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 doearly filers. Develop appropriate hypotheses such that rejection of Ho will support the researcher's contention.Ho: u isSelect your answer--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 5930. Based on prior experience apopulation 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 earlyfilers?Yesd. 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 answerthe 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 refundfor early filers?NoCheck My Work (2 remaining)M

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Individuals filling federal income tax returns prior to march 31 received an average refund of $1070…

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College Algebra

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ISBN:9781337282291

Author:Ron Larson

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Chapter8: Sequences, Series,and Probability

Section8.7: Probability

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For a sample of 400 individuals who filed a tax return between April 10th and 15th, the sample mean refund was $930. Based on prior experience a population standard deviation of $1600 may be assumed. What is the p-value (to 4 decimals)?

Q Search thls cou
hapter 9
According to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1,070 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
Select your answer-
-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 5930. 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?
Yes
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
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?
No
Check My Work (2 remaining)
M

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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