3.The economic dynamism, which is the index of productive growth in dollars for countries that are designated by the World Bank as middle-income are listed in the table below ("SOCR data 2008," 2013).Countries that are considered high-income have a mean economic dynamism of 60.29.Do the data show that the mean economic dynamism of middle-income countries is less than the mean for high-income countries?Test at the 5% level.

Table: Economic Dynamism of Middle Income Countries

25.8057

37.4511

51.915

43.6952

47.8506

43.7178

58.0767

41.1648

38.0793

37.7251

39.6553

42.0265

48.6159

43.8555

49.1361

61.9281

41.9543

44.9346

46.0521

48.3652

43.6252

50.9866

59.1724

39.6282

33.6074

21.6643

Step 1:State the question

Step 2:Identify the information

a.State the random variables and parameters in words

b.State the null and alternative hypotheses and level of significance

c.Determine the type of test this is, then state and check the assumptions for this type of test

Step 3: Perform calculations

a.Find the sample statistics

b.Find the test statistic

c.Find the p-value

d.State the conclusion (compare p and alpha and decide to reject H_o or fail to reject H_o)

Step 4.Interpret (answer the original question in a complete sentence)