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States that rely on sales tax for revenue to fund education, public safety. and other programs often and up with budget surpluses during economic growth
States that rely on sales tax for revenue to fund education, public safety. and other programs often and up with budget surpluses during economic growth periods (when people spend more on consumer goods) and budget deficits during recessions (wt ar goods]. A random selection of 43 small retailers in a economy were recently sampled. The sample showed a mean increase of $2280 in additional sales tax revenue collected par retailer compared to the previous quarter. The sample standard deviation is $442. Complete parts a through c below. a) Find a 95% confidence interval for the mean increase in sales tax revenue for small retailers in this state. (Round to one decimal place as needed.) b) What assum atisfied? O A. It is assumed that the O B. It is assumed that the ue is not biased. O C. It is ass e does not contain any outliers. O D. No assumptions have bean made. s the ran n condition satisfied? O A. Yes. there is definitely evidence to believe that the retailers were sampled at random O B. No. because the retailers came from the same city. O C. No. there is evidence to believe that the retailers were not sampled at random. O D. Yes, it is given that the sample is random. Is the 10%% condition satisfied? O A. Yes, 43 retailers are less than 10% of all retailers. O B. No. 43 retailers are less than 10%% of all retailers. O C. Yes, 43 retailers are more than 10%% of all retailers. O D. No. 43 retailers are more than 1096 of all retailers. is the nearly normal condition satisfied? O A. It is not possible to de ermine. but since the sample of 43 retailers is large enough, normality can be assumed O B. No. the sample of 43 retailers did did not come from a distribu that is approximately normal O C. It is not pos validity of any inference is questionable. OD. Y atribution that is approximately normal. c) Explain what your what it does not mean. O A. It means that 05% of the ingress retailers in this state will be contained in the interval. It does not mean that the interval contains the true mean increase in sales tax revenue for small retailers in this state 95%% of the time. O B. It means that we are 05% co for small retailers in this state. It does not mean that 05% of the increases in sales tax revenue for small retailers in this state will be contained in the interval O C. It means that 95% of all small retailers in sales tax revenue that falls within the interval. It does not mean that 05%% of the increases in sales tax revenue for small retailers in this state will be contained in the interval. O D. It means that the interval contains the evenue for small retailers in this state 859% of the time. It does not mean that we are 95%% confident that the interval contains the true mean increase in sales tax revenue for small retailers in this state
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