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You may need to use the appropriate appendix table or technology to answer this question. Individuals...

You may need to use the appropriate appendix table or technology to answer this question. Individuals filing federal income t(d) Repeat the preceding hypothesis test using the critical value approach. State the null and alternative hypotheses. O Hou

You may need to use the appropriate appendix table or technology to answer this question. Individuals filing federal income tax returns prior to March 31 received an average refund of $1,063. 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. O Ho: u 2 $1,063 H: < $1,063 O Hou s $1,063 Hu> $1,063 O Hou < $1,063 Hau 2 $1,063 O Ho: u = $1,063 Hau$1,063 O Hoiu > $1,063 Haus $1,063 (b) For a sample of 400 individuals who filed tax return between April 10 and 15, the sample mean refund was $910. Based on prior experience, a population standard deviation of o = $1,600 may be assumed. What is the test statistic? (Round your answer to two decimal places.) What is the p-value? (Round your answer to four decimal places.) p-value = (c) At a = 0.05, what is your conclusion? O Do not reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,063. Reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less than or equal $1,063. Reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,063. Do not reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less or equal than $1,063.
(d) Repeat the preceding hypothesis test using the critical value approach. State the null and alternative hypotheses. O Hou 2 $1,063 Hou < $1,063 O Hou s $1,063 Hau > $1,063 O Hou < $1,063 Hu2 $1,063 O Ho: u = $1,063 Hou = $1,063 Hou > $1,063 Haus $1,063 Find the value of the test statistic. (Round your answer to two decimal places.) State the critical values for the rejection rule. (Use a = 0.05. Round your answer to two decimal places. If the test is one-tailed, enter NONE for the unused tail.) test statistics test statistic > State your conclusion. Do not reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,063. Reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less than or equal $1,063. Reject Ho. There is sufficient evidence to conclude that the mean refund of "last minute" filers is less than $1,063. O Do not reject Ho. There is insufficient evidence to conclude that the mean refund of "last minute" filers is less or equal than $1,063.
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Let ll be the average refund = $1,063 a) Hypothesis Ho: U = $1,063 Ha el 3 $1,063 b) Sample size, n=400 Sample mean refund, t

Hie: ܙ d) Hypothesis el = $1,063 Ha u < $1.063 Test statistic Z - -1.91 At a = 0,05 the critical valueis, - Za =-Zo.os =-1.64

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