USE THE FOLLOWING DATA TO ANSWER THE QUESTION

question 6

Multiple Choice

USE THE FOLLOWING DATA TO ANSWER THE QUESTION.
Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of $100 per capita based on its 2000 census population of 15,000. Assessed value equals 25% of market value.

-What is the effective tax rate in Hicksville?

• A) .01375
• B) .01750
• C) .05500
• D) .07000

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Definitions:

One-sample Chi-square Test

A statistical test used to determine if the distribution of categorical variables differs from a hypothesized distribution.

Fisher's Exact Test

A statistical significance test used for small sample sizes, comparing proportions in a 2x2 contingency table.

Chi-square Statistic

A measure used in statistics to test the independence of two events.

Observed Data

Refers to the data that has been collected or measured directly in an experiment or study.