Question

In a random sample of 64 audited estate tax returns, it was determined that the mean amount of additional tax owed was $3445 with a standard deviation of $2593. Construct and interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns. LOADING... Click the icon to view the t-distribution table. The lower bound is $ nothing. (Round to the nearest dollar as needed.) The upper bound is $ nothing. (Round to the nearest dollar as needed.) Interpret a 90% confidence interval for the mean additional amount of tax owed for estate tax returns. Choose the correct answer below. A. One can be 90% confident that the mean additional tax owed is greater than the upper bound. B. One can be 90% confident that the mean additional tax owed is between the lower and upper bounds. C. One can be 90% confident that the mean additional tax owed is less than the lower bound

Answer #1

Solution :

degrees of freedom = n - 1 = 64 - 1 = 63

t/2,df
= t_{0.05,63} = 1.669

Margin of error = E = t_{/2,df}
* (s /n)

= 1.669 * (2593 / 64)

Margin of error = E = 541

The 90% confidence interval estimate of the population mean is,

± E

= 3445 ± 541

= ( $ 2904, $ 3986 )

lower bound = $ 2904

upper bound = $ 3986

. B. One can be 90% confident that the mean additional tax owed is between the lower and upper bounds.

#12 In a random sample of 100 audited estate tax returns, it
was determined that the mean amount of additional tax owed was
$3416 with a standard deviation of $2547. Construct and interpret
a 90% confidence interval for the mean additional amount of tax
owed for estate tax returns. LOADING... Click the icon to view the
t-distribution table. The lower bound is $ nothing. (Round to the
nearest dollar as needed.) The upper bound is $ nothing. (Round
to the...

In a random sample of 64 audited income tax returns, it was
determined that the mean amount of additional tax owed was $3448
with a standard deviation of $2580. Construct and interpret a 90%
confidence interval for the mean additional amount of tax owed for
income tax-returns.
Lower bound: ___
Upper bound: ___
Interpret and choose correct answer:
A) One can be 90% confident that the mean additional tax owed is
between the lower and upper bounds
B) One can...

In a random sample of
100100
audited estate tax returns, it was determined that the mean
amount of additional tax owed was
$34663466
with a standard deviation of
$25272527.
Construct and interpret a 90% confidence interval for the mean
additional amount of tax owed for estate tax returns.
LOADING...
Click the icon to view the t-distribution table.
The lower bound is ______
The upper bound is ______

In a random sample of 81 audited estate tax returns, it was
determined that the mean amount of additional tax owed was $3477
with a standard deviation of $2512. Construct and interpret a 90%
confidence interval for the mean additional amount of tax owed for
estate tax returns.
Click here to view the standard normal distribution table (page
1)
Click here to view the standard normal distribution table (page
2)
Click here to view the table of critical t-values.
Find...

In a random sample of 64 audited estate tax returns, it was
determined that the mean amount of additional tax owed was $3479
with a standard deviation of $2526. Construct and interpret a 90%
confidence interval for the mean additional amount of tax owed for
estate tax returns. Find and interpret a 90% confidence interval
for the mean additional amount of tax owed for estate tax returns.
Select the correct choice below and fill in the answer boxes to
complete...

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.

In a random sample of 49 audited estate tax returns, it was
determined that the mean amount of additional tax owed was $3412
with a standard deviation of 2564.
Construct and interpret a 90% confidence interval for the mean
additional amount of tax owed for estate tax returns.

You are given the sample mean and the population standard
deviation. Use this information to construct the 90% and 95%
confidence intervals for the population mean. Interpret the results
and compare the widths of the confidence intervals.
From a random sample of
78
dates, the mean record high daily temperature in a certain city
has a mean of
85.43 degrees°F.
Assume the population standard deviation is
13.72 degrees°F.
The 90% confidence interval is
(nothing,nothing).
(Round to two decimal places as...

You are given the sample mean and the population standard
deviation. Use this information to construct the 90% and 95%
confidence intervals for the population mean. Interpret the results
and compare the widths of the confidence intervals. From a random
sample of 33 business days, the mean closing price of a certain
stock was $111.13. Assume the population standard deviation is
$10.41. The 90% confidence interval is ( nothing, nothing).
(Round to two decimal places as needed.) The 95% confidence...

Based on interviews with 87
SARS patients, researchers found that the mean incubation
period was 5.5
days, with a standard deviation of 15.6
days. Based on this information, construct a 95% confidence
interval for the mean incubation period of the SARS virus.
Interpret the interval.
The lower bound is
nothing
days. (Round to two decimal places as needed.) The upper bound
is
nothing
days. (Round to two decimal places as needed.)
Interpret the interval. Choose the correct answer below.
A....

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 17 minutes ago

asked 31 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago