Hypothesis test

Please explain the solution to this problem. 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 researchers contention.

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 $1600 may be assumed. What is the p-value?

c. At alpha = .05, what is the conclusion?

D. Repeat the preceding hypothesis test using the critical value approach.

  1. 👍 0
  2. 👎 0
  3. 👁 224
asked by Help

Respond to this Question

First Name

Your Response

Similar Questions

  1. stats

    AARP reported on a study conducted to learn howlong it takes individuals to prepare their federal income tax return (AARP Bulletin, April 2008). The data contained in the file named TaxReturn are consistent with the study results.

    asked by Anonymous on October 27, 2014
  2. accounting

    Complete the work sheet. In completing the worksheet, compute State of Illinois corporate income taxes at 41/2% of pretax income. The state income tax is deductible on the federal tax return, and the federal tax is not deductible

    asked by bakbone on April 18, 2012
  3. business

    Most people pay federal income tax by: A. paying the total amount owed by April 15. B. filing quarterly tax payments. C. having amounts withheld from income. D. earning tax credits for various deductions. I chose d. But I am not

    asked by clara on September 26, 2012
  4. math (statistics)

    The following table shows the percentage of individuals in each age group who use an online tax program to prepare their federal income tax return. AGE ONLINE TAX PROGRAM (%) 18-34 16 35-44 12 45-54 10 55-64 8 65+ 2 Suppose a

    asked by sarah on February 9, 2015
  5. accounting

    In 2007, Paul who is single has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually late in filing his federal income tax return. He did not file his 2007 income tax return

    asked by Mikki on February 8, 2009
  6. tax income

    When filing their tax returns, almost all individuals use the __________ method. A. accrual B. cash receipts and disbursements C. recognition D. accounting is it B

    asked by Billy on March 2, 2012
  7. Public Finance

    A worker lives in a state that has its own income tax. The worker is in the 31 percent federal tax bracket. In addition, he is subject to a 9 percent MTR for his state income tax. Assume that mortgage interest is deductible both

    asked by Melvin on January 24, 2011
  8. public finance

    A worker lives in a state that has its own income tax. The worker is in the 31 percent federal tax bracket. In addition, he is subject to a 9 percent MTR for his state income tax. Assume that mortgage interest is deductible both

    asked by Anonymous on January 25, 2011
  9. Math

    When calculating his income tax an accountant realized that his federal tax was 40% of his income after his provincial tax was paid, and that his provincial tax was 25% of his income after his federal tax was paid. If the

    asked by Bill on October 12, 2019
  10. Economics

    1) In which of the following situations would someone have to pay a gift tax? A. A relative dies and leaves you $13,000 in the will. B. Your cousin gives you a car worth $1,700. C. Your grandmother gives you $13,000 toward

    asked by Halima on July 6, 2012

More Similar Questions