At the national level, the average income for a given occupation is $74 914. You want to determine if the income for member of the occupation is the same is Kamloops. You take a random sample of 112 members of the occupation is Kamloops. You find that mean of your sample is $78695. Assume that the population standard deviation is $14 530.
(a) (7 marks) State the hypotheses and test them with the critical value approach and a significance level of α = 0.05.
(b) What is the p-value of the test statistic?
(c) What is the 95% confidence interval for (?