In 2000 the average total charitable contribution in the United States (according to the IRS), as reported on tax returns, was $2,225 per household. Suppose you wanted to determine if the mean charitable contribution per household has changed since then. To test this, you sample 35 household tax returns from 2022 and find the following: The mean, ?̅, charitable contribution per household was $2,675, with a standard deviation, S, of $1,844. At the 0.05 level of significance, is there evidence to suggest the mean charitable contribution per household has changed since 2000? Step 1: Define the parameter & setup the test Step 2: State the Level of Significance Step 3: Find the value of the Test Statistics Step 4: Find P-Value OR Find Critical Value Step 5: State Conclusion and why
In 2000 the average total charitable contribution in the United States (according to the IRS), as reported
on tax returns, was $2,225 per household.
Suppose you wanted to determine if the
then. To test this, you sample 35 household tax returns from 2022 and find the following:
The mean, ?̅, charitable contribution per household was $2,675, with a standard deviation, S, of $1,844.
At the 0.05 level of significance, is there evidence to suggest the mean charitable contribution per
household has changed since 2000?
Step 1: Define the parameter & setup the test
Step 2: State the Level of Significance
Step 3: Find the value of the Test Statistics
Step 4: Find P-Value OR Find Critical Value
Step 5: State Conclusion and why
Trending now
This is a popular solution!
Step by step
Solved in 7 steps with 16 images
