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Suppose you are a budget analyst employed by a small city. You are asked by the city manager to determine if the city has the
Suppose you are a budget analyst employed by a small city. You are asked by the city manager to determine if the city has the same mean income per person as the average U.S. city. To address this problem, you randomly select 30 of the city's residents. You submit their names to the state's department of finance, which provides you with these residents' personal incomes. Using this sample data, you determine that the mean income per person [i.e., per capita} is $25,400 with a standard deviation of $450. The mean per capita income for the U.S. urban population for this year is estimated by the Census Bureau to be $29,000. assuming a normal distribution for the population, derive and test the appropriate hypotheses which will answer the city manager's question. Use alpha 2 .01. Specify all assumptions necessary, and briefly interpret the result. b.When you present your results, the city manager asks for a confidence interval estimate for the population mean at alpha=.05. Construct this confidence interval and briefly interpret the results
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