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 researcher suggest 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 will support the researcher’s contention.For a sample of 400 individuals who file a tax return between April 10 and April 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?At a=.05 , What is your conclusion?

Guven that, an Individuals filing federal income tax returns prior to March 31 received an average…

Answered: Individuals filing federal income tax…

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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 researcher suggest 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 will support the researcher’s contention.
For a sample of 400 individuals who file a tax return between April 10 and April 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?
At a=.05 , What is your conclusion?

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