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4. [24 pts] A group of young businesswomen wish to open a high fashion boutique in a vacant store but only if the average income

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4. [24 pts] A group of young businesswomen wish to open a high fashion boutique in a vacant store but only if the average income of households in the area is at least $25,000. A random sample of 9 households showed the following results. $28,000 $24,000 $26,000 $25,000 $23,000 $27,000 $26,000 $22,000 $24,000 Assume the population of incomes is normally distributed. a) [6 pts] Compute the sample mean and the standard deviation. b) [6 pts] State the hypotheses for this problem. 0) [6 pts] Compute the test statistic. d) [6 pts] At a .05 level of signicance using the p-Value approach, what is your conclusion

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