In a sample of 109 respondents in Paducah, Kentucky, the average annual income was $37,450, with a standard deviation of $1510.

a. What is the relevant sample statistic? Provide notation and value.

b. Provide the null and alternative hypotheses to test the claim that mean annual income in Paducah, KY is less than $40,000.

c. Calculate a standardized test statistic for the observed sample value. Round to three digits after the decimal.

d. Use the standardized test statistic and the standard normal distribution in StatKeyto find the p-value for the observed sample statistic.

e. Use the p-value you calculated in Question D to make a ruling on Ho at alpha level = .05.

f. Interpret your result within the context of the question.