Question
Statistics provided by developing countries are not always reliable. Data can be hard to gather and is sometimes reported incorrectly. From your analysis of Country
Statistics provided by developing countries are not always reliable. Data can be hard to gather and is sometimes reported incorrectly. From your analysis of Country A, you conclude that citizens there average $1,100 per month in household disposable income. The Minister of Development for Country B says that disposable income is the same in his country. To see if the data supports this, your company has sampled 100 households from Country B and obtained data on household disposable income. Use the Excel data file found on the course website to: a. Derive a frequency distribution of income b. Create a histogram of income c. Obtain and interpret the sample mean and standard deviation d. Test the hypothesis, at the 5% significance level, that Country B also has a mean of $1,100
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