A nation has a mean household income in 2004 of $43,700 with a standard deviation of $5,110. A random sample of 800 families drawn from one region in that country has a mean income of $38,200. Could this region have a statistically significant lower mean household income than the rest of the nation? Why or why not?Step 1. Formulate a null hypothesis and research hypothesis:H0:H1:Step 2. Collect all the necessary data:Sample size:Sample mean:Population mean:Population standard deviation:Step 3. Decide which test to use:Step 4. Determine the level of significance:Step 5. Calculate the test statistic:Step 6. Compare the test statistic to the critical value:Step 7. Reject, or do not reject, the null hypothesis:State your conclusion:

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Description: A nation has a mean household income in 2004 of $43,700 with a standard deviation of $5,110. A random sample of 800 families drawn from one region in that country has a mean income of $38,200. Could this region have a statistically significant lower

H0:μ=43700H1:μ<43700 (Hint from the question)

Answered: A nation has a mean household income in…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A nation has a mean household income in 2004 of $43,700 with a standard deviation of $5,110. A random sample of 800 families drawn from one region in that country has a mean income of $38,200. Could this region have a statistically significant lower mean household income than the rest of the nation? Why or why not?

1. Step 1. Formulate a null hypothesis and research hypothesis:
  - H₀:
  - H₁:
2. Step 2. Collect all the necessary data:
  - Sample size:
  - Sample mean:
  - Population mean:
  - Population standard deviation:
3. Step 3. Decide which test to use:
4. Step 4. Determine the level of significance:
5. Step 5. Calculate the test statistic:
6. Step 6. Compare the test statistic to the critical value:
7. Step 7. Reject, or do not reject, the null hypothesis:
8. State your conclusion:

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