In a random sample of 49 audited estate tax returns, it was determined that the mean amount of additional tax owed was $3472 with a standard deviation of $2515. 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 your choice. (Use ascending order. Round to the nearest dollar as needed.) A. There is a 90% probability that the mean additional tax owed is between $nothing and $nothing. B. 90% of taxes owed for estate tax returns are between $nothing and $nothing. C. One can be 90% confident that the mean additional tax owed is between $nothing and $nothing.
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Step 1
Margin of error = (standard deviation / sqrt(sample size)) * z-value Margin of error = (2515 / sqrt(49)) * 1.645 Margin of error = (2515 / 7) * 1.645 Margin of error = Show more…
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In a random sample of 64 audited estate tax returns, it was determined that the mean amount of additional tax owed was $3473 with a standard deviation of $2552. 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 your choice. (Use ascending order. Round to the nearest dollar as needed.) A. 90% of taxes owed for estate tax returns are between $ and $ . B. One can be 90% confident that the mean additional tax owed is between $ and $ . C. There is a 90% probability that the mean additional tax owed is between $ and $ .
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In a random sample of 49 audited estate tax returns, it was determined that the mean amount of additional tax owed was $3424 with a standard deviation of $2522. 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 your choice. (Use ascending order. Round to the nearest dollar as needed.) A. One can be 90% confident that the mean additional tax owed is between $ and $. B. There is a 90% probability that the mean additional tax owed is between $ and $. C. 90% of taxes owed for estate tax returns are between $ and $.
David N.
A large order of the no. 9 corks described in Applied Example $6.13(p .285)$ is about to be shipped. The final quality-control inspection includes an estimation of the mean ovality (ovalization; out-of roundness) of the corks. The diameter of each cork is measured in several places, and the difference between the maximum and minimum diameters is the measure of ovality for each cork. After years of measuring corks, the manufacturer is sure that ovality has a mounded distribution with a standard deviation of $0.10 \mathrm{mm} .$ A random sample of 36 corks is taken from the batch and the ovality is determined for each. $$\begin{array}{lllllllll} \hline 0.32 & 0.27 & 0.24 & 0.31 & 0.20 & 0.38 & 0.32 & 0.11 & 0.25 \\ 0.22 & 0.35 & 0.20 & 0.28 & 0.17 & 0.36 & 0.28 & 0.38 & 0.17 \\ 0.34 & 0.06 & 0.43 & 0.13 & 0.39 & 0.15 & 0.18 & 0.13 & 0.25 \\ 0.20 & 0.16 & 0.26 & 0.47 & 0.21 & 0.19 & 0.34 & 0.24 & 0.20 \\ \hline \end{array}$$ a. The out-of-round spec is "less than $1.0 \mathrm{mm}$ " Does it appear this order meets the spec on an individual cork basis? Explain. b. The certification sheet that accompanies the shipment includes a $95 \%$ confidence interval for the mean ovality. Construct the confidence interval. c. Explain what the confidence interval found in part b tells about this shipment of corks.
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