Question

In a random sample of 81 audited estate tax​ returns, it was determined that the mean...

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.

Homework Answers

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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