Question

In a random sample of

81

audited estate tax returns, it was determined that the mean amount of additional tax owed was

$3418

with a standard deviation of

$2516

Construct and interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns.

Answer #1

Confidence Interval

Lower Limit =

Lower Limit = 2952.7847

Upper Limit =

Upper Limit = 3883.2153

90% Confidence interval is ( 2952.7847 , 3883.2153 )

We are 90% confident that the mean additional amount of tax owed for estate tax returns lies in the interval ( 2952.7847 , 3883.2153 ) .

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