Question

Video Individuals filing federal income tax returns prior to March 31 received an average refund of $1,088. Consider the population of "last-minute" flers 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 average these individuals receive lower refunds than do early tiers. Develop appropriate hypotheses such that rejection of My wil support the researcher's contention. Hois greater than or equal to 1,068 His less than 1,088 b. For a sample of 400 individuals who fled a tax return between April 10 and 15, the sample mean refund was $940. 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 - .05, can you conclude that the population mean refund for "last minute" Piers is less than the population mean refund for early Pers? Yes Answer the next three questions using the critical value approach d. Using .05, what is the critical value for the test statistic (to 3 decimals)? If your answer is negative use minus sign c. State the rejection ruler Reject Hoifiseer than to 1 the critical value 1. Using a - .05, can you conclude that the population mean refund for last minute hier is less than the population mean refund for early ters? Yes

Answer 1

Ho le is greatu than or equal to 1088 Mos less than 1088 boy n=400, łz 940, 1600 P-value 10.0322 d critical value - 1.645 Reject to zů less than or equal to the centical value.