document.write( "Question 1129223: The mean income per person in the United States is $50,000 and the distribution of incomes follows as normal distribution. A random sample of 10 residents of Wilmington, Delaware had a mean of $60,000 wit a standard deviation of $10,000 .05 SIG LEVEL Need the Ho HI one tail, critical value, sample mean, Z value \n" ); document.write( "
Algebra.Com's Answer #745791 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! Ho: mean income is <=50000 \n" ); document.write( "Ha: mean income is >50000 \n" ); document.write( "alpha is 0.05, critical value is 1.645 \n" ); document.write( "z=(x bar- mean)/sigma/sqrt(n) (I would use t here, although difference would not be great) \n" ); document.write( "=10000/(10000/sqrt(10)) \n" ); document.write( "=10000*sqrt(10)/10000=3.16. This is the Z value, Sample mean is $60,000 \n" ); document.write( "One would reject Ho at the 0.05 level. p-value is 0.0008 \n" ); document.write( "conclude the mean income in Wilmington is > $50000. \n" ); document.write( " |