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Description: The average income in a certain area is assumed to be approximately $35,000. Assume the standard deviation of the incomes in the area to be $8,000. We wish to test if the average income in the area is less than $35,000. A SRS of size 36 yields a sa

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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The average income in a certain area is assumed to be approximately $35,000. Assume the standard deviation of the incomes in the area to be $8,000. We wish to test if the average income in the area is less than $35,000. A SRS of size 36 yields a sample mean of $37,000.

What is the conclusion, and why?

Group of answer choices

accept (fail to reject) Ho, p-value > 0.05

reject Ho, p-value > 0.05

accept (fail to reject) Ho, p-value < 0.05

reject Ho, p-value < 0.05

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