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. Ho: 4 greater than or equal to 1056 Hạ: H less than 1056 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 o = $1600 may be assumed. What is the p-value (to 4 decimals)? .0336 c. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early fliers? Yes Answer the next three questions using the critical value approach. d. Using a = .05, what is the critical value for the test statistic (to 3 decimals)? .068 If your answer is negative, use minus "-" sign. the critical value. e. State the rejection rule: Reject H o if z is less than or equal to f. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? Yes
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. Ho: 4 greater than or equal to 1056 Hạ: H less than 1056 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 o = $1600 may be assumed. What is the p-value (to 4 decimals)? .0336 c. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early fliers? Yes Answer the next three questions using the critical value approach. d. Using a = .05, what is the critical value for the test statistic (to 3 decimals)? .068 If your answer is negative, use minus "-" sign. the critical value. e. State the rejection rule: Reject H o if z is less than or equal to f. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund for early filers? Yes
MATLAB: An Introduction with Applications
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Author:Amos Gilat
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![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.
Ho: 4 greater than or equal to 1056
Ha: H less than 1056
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 o = $1600 may be assumed. What is the p-value (to 4 decimals)?
.0336
c. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund
for early fliers?
Yes
Answer the next three questions using the critical value approach.
d. Using a = .05, what is the critical value for the test statistic (to 3 decimals)?
.068
If your answer is negative, use minus
"-" sign.
the critical value.
e. State the rejection rule: Reject H o if z is less than or equal to
f. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund
for early filers?
Yes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffbe4d004-b0c7-4fb9-bd84-121b248ea820%2F0e3900d3-c869-40e7-9a98-e086bed3809b%2Ffwgft9b_processed.png&w=3840&q=75)
Transcribed Image Text: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.
Ho: 4 greater than or equal to 1056
Ha: H less than 1056
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 o = $1600 may be assumed. What is the p-value (to 4 decimals)?
.0336
c. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund
for early fliers?
Yes
Answer the next three questions using the critical value approach.
d. Using a = .05, what is the critical value for the test statistic (to 3 decimals)?
.068
If your answer is negative, use minus
"-" sign.
the critical value.
e. State the rejection rule: Reject H o if z is less than or equal to
f. Using a = .05, can you conclude that the population mean refund for "last minute" filers is less than the population mean refund
for early filers?
Yes
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