Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone help me please!!! 5. The average household income in the San Jose (CA) is reported to be $75,000 per year, but the city

can someone help me please!!!
image text in transcribed
5. The average household income in the San Jose (CA) is reported to be $75,000 per year, but the city finance manager believes that the average income is much higher due to the recent relocations of several high-tech firms to the city from the Silicon Valley. The city then commissioned a study using 5,000 residents and found that the average income is $85,000 with a =$10,000. Let =1%. H0:H1:$75,000>$75,000 H1:>$75,000 What's the critical Z-value for this test? A). +2.68 C). 2.32 C). 2.68 D). 1.96 E). +2.32 6. If the alternative hypothesis states that is not equal to $12,000, what is the rejection region for the hypothesis test? A). Left Tail B). Right Tail C). Both tails D). All of above E). None of above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance Terms Financial Education Is Your Best Investment

Authors: Thomas Herold

1st Edition

1090822871, 978-1090822871

More Books

Students also viewed these Finance questions