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need part c States that rely on sales tax for revenue to fund education, public safety, and other programs often end up with budget surpluses
need part c
States that rely on sales tax for revenue to fund education, public safety, and other programs often end up with budget surpluses during economic growth periods (when people spend more on consumer goods) and budget deficits during recessions (when people spond less on consumer goods). 13 small retailers in a state with a growing oconomy were recently sampled. The sample showed a mean increase of $2250 in additional sales tax revenue collected per retailer compared to the previous quarter. The sample standard deviation is $425. Complete parts a through d below. .) What is the standard error of tho mean incroaso in salos tax revenue collected? The standard error in $ 117.87 (Round to two decimat places as needed.) b) What happens to the accuracy of an estimate when an interval in constructed using a smaller sample size? The standard orror and width of the interval increases, which means that the accuracy of the interval decreases c) Find and interpreta 95% confidence interval ($2083.3.5 2416.7) (Round to ono decimal place as needed) Step by Step Solution
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