Question

In a random sample of 100 audited estate tax​ returns, it was determined that the mean amount of additional tax owed was ​$3466 with a standard deviation of ​$2518. Construct and interpret a​ 90% confidence interval for the mean additional amount of tax owed for estate tax returns.

Answer 1

Answer:

We are 90% confident that the mean additional amount of tax owed for estate tax returns is between 2818.9 and 4113.1

Explanation:

n= 100 ( sample size)

X bar= $3466 ( mean)

Sigma= $2518 ( standard deviation)

Using the formula

Check the attached picture