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

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

AT THE .01 LEVEL OF SIGNIFICANCE, THE TRUE MEAN REFUND FOR LATE FLIERS (IS/IS NOT) LESS THAN $2763, THE MEAN FOR THE FILERS

IS OR IS NOT

math   Statistics-And-Probability   
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Answer #1

Ho:mu=2763

Ha:mu<2763

alpha=0.01

Its t test for mean

In ti83 cal

go to

TESTS> T TEST

TEXAS INSTRUMENTS TI-83 Plus TEXAS INSTRUMENTS TI-83 Plus T-Test Inpt: Dat Stats 10:2763 3:2517 Sx: 1750 n: 60 Mimo KPO MD Dr

t=-1.08886

p=0.1403

p>0.01

Fail to reject null hypothesis

Accept null hypothesis.

AT THE .01 LEVEL OF SIGNIFICANCE, THE TRUE MEAN REFUND FOR LATE FLIERS IS NOT LESS THAN $2763

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