Assume that the average annual income of people in US is said to be $25450. We want to check whether average income of p
Posted: Mon Sep 06, 2021 7:12 am
Assume that the average annual income of people in US is said to
be $25450. We want to check whether average income of people in
Chicago represents the national average. A sample of 250 people in
Chicago was taken and it was found that their average income was
$26500 with SD $2800. At 5% Level of significance, can you conclude
that the average income of people in Chicago is representative of
US average?
be $25450. We want to check whether average income of people in
Chicago represents the national average. A sample of 250 people in
Chicago was taken and it was found that their average income was
$26500 with SD $2800. At 5% Level of significance, can you conclude
that the average income of people in Chicago is representative of
US average?