Is there evidence that the population mean annual income is

Is there evidence that the population mean annual income is significantly different from $65,000 (note the data in the data set are represented in thousands of dollars). To answer this question state the hypotheses calculate the appropriate test statistic estimate the P value and interpret the results

ne e re1Wyoming 2 54.4 hool348.3 Black 4 Wyom 5 71.5 75.2 66.3 edianl 7 edian 7 7 66.6 70.4 40.5 44.5 49.9 62.6 viatior 9 10 s, and 11 hy not? 13 interva

Set Up Hypothesis
Null Hypothesis, annual income is not significantly different from $65,000 H0: U=65
Alternate Hypothesis, annual income is significantly different from $65,000 H1: U!=65
Test Statistic
Population Mean(U)=65
Sample X(Mean)=58.84
Standard Deviation(S.D)=11.493
Number (n)=12
we use Test Statistic (t) = x-U/(s.d/Sqrt(n))
to =58.84-65/(11.493/Sqrt(11))
to =-1.857
| to | =1.857
P-Value :Two Tailed ( double the one tail ) -Ha : ( P != -1.8567 ) = 0.0903
Hence Value of P0.02 < 0.0903,Here We Do not Reject Ho

No, we don\'t hav evidence to prove it is diffrent from $65,000

Is there evidence that the population mean annual income is significantly different from $65,000 (note the data in the data set are represented in thousands of

Is there evidence that the population mean annual income is

Solution

Get Help Now

Submit a Take Down Notice