- You May Need To Use The Appropriate Appendix Table Or Technology To Answer This Question Individuals Filing Federal Inc 1 (31.3 KiB) Viewed 16 times
- You May Need To Use The Appropriate Appendix Table Or Technology To Answer This Question Individuals Filing Federal Inc 2 (36.91 KiB) Viewed 16 times
You may need to use the appropriate appendix table or technology to answer this question. Individuals filing federal income tax returns prior to March 31 received an average refund of $1,048. 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. How>$1,048 Hs $1,048 OH:-$1,048 H$1,048 How $1,048 HH $1,048 OH: 2 $1,048 H#$1,048 OHH$1,048 H2 $1,048 (b) For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $910. Based on prior experience, a population standard deviation of $1,600 may be assumed. What is the test statistic? (Round your answer to two decimal places.) What is the p-value? (Round your answer to four decimal places) p-value= (c) At a 0.05, what is your conclusion? O Reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute filers is less than or equal $1,048. Reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,048. Do not reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" fiers is less or equal than $1,048, Do not reject Ho: There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,048. (d) Repeat the preceding hypothesis test using the critical value approach.
Do not reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less or equal than $1,048. Do not reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,048. (d) Repeat the preceding hypothesis test using the critical value approach. State the null and alternative hypotheses. ⒸHO: > $1,048 HS $1,048 ⒸHO: = $1,048 H: ## $1,048 OHO: HS $1,048 H:>$1,048 ⒸHO: M2 $1,048 H:<$1,048 Ho: < $1,048 H₂: #2 $1,045 Find the value of the test statistic. (Round your answer to two decimal places.). State the critical values for the rejection rule. (Use a = 0.05. Round your answer to two decimal places. If the test is one-tailed, enter NONE for the unused tail.) test statistics test statistic 2 State your conclusion. O Reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less than or equal $1,048. Reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute filers is less than $1,048. O Do not reject Hg. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less or equal than $1,048. Do not reject Ho. There is sufficient evidence to conclude that the mean refund. minute" filers is less than $1,048.