Hypothesis testing of families

Reference no: EM13111583

A study of 20 families in a certain large city showed that the average income was $33,210 in 2000 with a standard deviation of $1800. Test the hypothesis that the true average income in this city was actually $31,000 against the hypothesis that it was more. Use a level of significance of 5% (hint: This is a one-sided test).

Reference no: EM13111583

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