Individuals filing federal income tax returns prior to March 31 received an average refund of $1078. 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). For a sample of 380 individuals who filed a tax return between April 10 and 15, the sample mean refund was $820. Based on prior experience, a population standard deviation of σ = $1700 may be assumed. At α = 0.05, what is your conclusion?

From the provided information, Sample size (n) = 380 Sample mean (x̅) = $820 Population standard…

Answered: Individuals filing federal income tax…

MATLAB: An Introduction with Applications

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Individuals filing federal income tax returns prior to March 31 received an average refund of $1078. 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). For a sample of 380 individuals who filed a tax return between April 10 and 15, the sample mean refund was $820. Based on prior experience, a population standard deviation of σ = $1700 may be assumed.

At α = 0.05, what is your conclusion?

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