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1. Population Mean - sigma Known: Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. 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).

1. Population Mean - sigma Known: Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. 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).

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 12PPS
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Task 1: Upload ONLY ONE PDF file in which you work out your answers (all steps needed) to all the questions below. Draw a normal curve to show your work. Each question is 10 points. 1. Population Mean - sigma Known: Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. 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. 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 sigma = $1600 may be assumed. At alpha = .05, what is your conclusion based on critical value approach? (Show graph to support your answer) c. what is your conclusion based on P-value approach? (Show graph to support your answer)
Transcribed Image Text:Task 1: Upload ONLY ONE PDF file in which you work out your answers (all steps needed) to all the questions below. Draw a normal curve to show your work. Each question is 10 points. 1. Population Mean - sigma Known: Individuals filing federal income tax returns prior to March 31 received an average refund of $1056. 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. 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 sigma = $1600 may be assumed. At alpha = .05, what is your conclusion based on critical value approach? (Show graph to support your answer) c. what is your conclusion based on P-value approach? (Show graph to support your answer)
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