Question

H&R Block randomly selected tax returns it prepared this year and recorded the amount of the Federal tax refund each client received (a negative amount indicates that Federal taxes were owed). The sample data are given below.

$5513, $6683, $6889, $2258, $2234, $1127, $3673, $5114, $3329, - $731, $2250, $2934, $2528, $647, $2361, $1718, $2900, $3824, $4424, $2599, $1137, $5058, $3331, $3261

Estimate the mean Federal tax refund received this year by H&R Block clients using this sample and a 95% confidence interval. Assume that the Federal tax refund amount is normally distributed. Express the confidence interval both symbolically and verbally.

Answer 1