O O E eBook Video Individuals filling federal income tax returns prior to March 31 received an average refund of $1,073.

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O O E Ebook Video Individuals Filling Federal Income Tax Returns Prior To March 31 Received An Average Refund Of 1 073 1 (56.1 KiB) Viewed 83 times

O O E eBook Video Individuals filling federal income tax returns prior to March 31 received an average refund of $1,073. 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: is greater than or equal to 1,073 Ha is less than 1,073 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 a $1,600 may be assumed. What is the p-value (to 4 decimals)? 0.0351 O c. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early fliers? Yes Answer the next three questions using the critical value approach. d. Using a = .05, what is the critical value for the test statistic (to 3 decimals)? -1.645 minus "-" sign. Yes Hide Feedback e. State the rejection rule: Pleject Ho if z is less than the critical value. f. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? Partially Correct X If your answer is negative use A- a: