Different counties across the US have different property tax rates for residenti

Question

Different counties across the US have different property tax rates for residential properties. A financial economist wants to estimate the true mean US tax rate for residential properties. Which confidence interval would be most appropriate in this situation?

Question options:

One sample z-confidence interval

One sample t-confidence interval

Paired-samples t-confidence interval

Independent samples t-confidence interval

Confidence interval for one proportion

One sample z-confidence interval

One sample t-confidence interval

Paired-samples t-confidence interval

Independent samples t-confidence interval

Confidence interval for one proportion

Explanation / Answer

Since the tax rates are different for each US country, we can take the tax rates of different countries and then since we would not be having population standard deviation, we can apply one sample t - confidence interval to estimate the tru mean US tax rate.

Hence,

Option B is correct.

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