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Mathematics, 21.04.2020 15:28 dai77

Individuals filing federal income tax returns prior to March 31 had an average refund of $1102. Consider the population of "last-minute" filers who mail their returns during the last five days of the income tax period (typically April 10 to April 15).

a. A researcher suggests that one of the reasons that individuals wait until the last five days to file their returns is that on average those individuals have a lower refund than early filers. Develop appropriate hypotheses such that rejection of H0 will support the researcher’s contention.

b. For a sample of 600 individuals who filed a return between April 10 and April 15, the sample mean refund was $1050 and the standard deviation was $500. Compute the p-value.

c. Using α =.05, what is your conclusion?

d. Test the hypotheses using the critical value approach (α = 0.025).

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Individuals filing federal income tax returns prior to March 31 had an average refund of $1102. Cons...
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