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Individuals filing federal income tax returns prior to March 31 received an average refund of $2763...

Individuals filing federal income tax returns prior to March 31 received an average refund of $2763 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 researcher suggests that a reason individuals wait until the last five days is that,, on avaerage, these individuals receive lower refunds than do early filers. For a sample of 60 individuals who filed a tax return between April 10 and April 15, the sample mean refund was $2517 with a standard deviation of $1750

uSE THE INFORMAION TO TEST WHETHER THE TRUE MEAN REFUND FOR A LATE FILERS IS LESS THAN $2763 (THE MEAN FOR EARLY FLIERS.) USE THE .01 LEBEL OF SIGNIFICANCE.

ROUND CRITICAL VALUE TO 3 DECIMAL PLACES AND YOUR TEST STATISTIC 3 DECIMALS. rOUND YOUR P VALUE 4 DECIMAL PLACES

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ms sample size 60 Sample mean (ă) = $ 2517 Sample sol. (vo) - $1750 the sample size is 60730 Heree nee use nomas Hoo Na 2763-0.1379. 0.8621 1- [1901-5210 -1 [boo.rs2d - mpor & - 0.8621 (1039). (500:1) + 1-1 (1.60.1-) I - 1 - [100.152]d-1 [boa.l- <2.

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