In a random sample of 81 audited estate tax returns, it was determined that the mean amount of additional tax owed was $3486 with a standard deviation of $2572. Construct and interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns. Click the icon to view the t-distribution table. The lower bound is $ (Round to the nearest dollar as needed.) The upper bound is $. (Round to the nearest dollar as needed.) Interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns. Choose the correct answer below. O A. One can be 90% confident that the mean additional tax owed is less than the lower bound. O B. One can be 90% confident that the mean additional tax owed is greater than the upper bound. OC. One can be 90% confident that the mean additional tax owed is between the lower and upper bounds.
In a random sample of 81 audited estate tax returns, it was determined that the mean amount of additional tax owed was $3486 with a standard deviation of $2572. Construct and interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns. Click the icon to view the t-distribution table. The lower bound is $ (Round to the nearest dollar as needed.) The upper bound is $. (Round to the nearest dollar as needed.) Interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns. Choose the correct answer below. O A. One can be 90% confident that the mean additional tax owed is less than the lower bound. O B. One can be 90% confident that the mean additional tax owed is greater than the upper bound. OC. One can be 90% confident that the mean additional tax owed is between the lower and upper bounds.
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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![**Constructing a 90% Confidence Interval for Estate Tax Returns**
In a random sample of 81 audited estate tax returns, the mean additional tax owed was determined to be $3,486, with a standard deviation of $2,572. We will construct and interpret a 90% confidence interval for the mean additional amount of tax owed for these estate tax returns.
**Instructions:**
- Click the icon to view the t-distribution table.
**Calculations:**
- **The lower bound is $_____**. (Round to the nearest dollar as needed.)
- **The upper bound is $_____**. (Round to the nearest dollar as needed.)
**Interpretation:**
A 90% confidence interval for the mean additional amount of tax owed for estate tax returns is to be interpreted correctly by choosing the appropriate statement from the options below:
- **A.** One can be 90% confident that the mean additional tax owed is less than the lower bound.
- **B.** One can be 90% confident that the mean additional tax owed is greater than the upper bound.
- **C.** One can be 90% confident that the mean additional tax owed is between the lower and upper bounds.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa2a79f3c-9d5f-475d-8512-37c872933c1c%2Fbec34425-4cec-4f9f-82dd-d1f6a20b70f6%2Fdomauai_processed.png&w=3840&q=75)
Transcribed Image Text:**Constructing a 90% Confidence Interval for Estate Tax Returns**
In a random sample of 81 audited estate tax returns, the mean additional tax owed was determined to be $3,486, with a standard deviation of $2,572. We will construct and interpret a 90% confidence interval for the mean additional amount of tax owed for these estate tax returns.
**Instructions:**
- Click the icon to view the t-distribution table.
**Calculations:**
- **The lower bound is $_____**. (Round to the nearest dollar as needed.)
- **The upper bound is $_____**. (Round to the nearest dollar as needed.)
**Interpretation:**
A 90% confidence interval for the mean additional amount of tax owed for estate tax returns is to be interpreted correctly by choosing the appropriate statement from the options below:
- **A.** One can be 90% confident that the mean additional tax owed is less than the lower bound.
- **B.** One can be 90% confident that the mean additional tax owed is greater than the upper bound.
- **C.** One can be 90% confident that the mean additional tax owed is between the lower and upper bounds.
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