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farmers in year 2020 was $80,060. A sample of 900 famers, which was taken in 2021, showed an average yearly household income of $83,311. Assume the standard deviation of the population of farmers' incomes in 2020 is $25,000. We want to test and determine if there has been a significant increase in the average yearly income of farmers. Provide the null and the alternative hypotheses. The test hypothesis is: Ho: u S $80,060 Ha: u> $80,060 a. Compute the test statistic. b. Determine the p-value, and at a 5% level of significance, test the hypotheses. c. Determine the critical value, and at 5% level of significance, test the hypothesis.

farmers in year 2020 was $80,060. A sample of 900 famers, which was taken in 2021, showed an average yearly household income of $83,311. Assume the standard deviation of the population of farmers' incomes in 2020 is $25,000. We want to test and determine if there has been a significant increase in the average yearly income of farmers. Provide the null and the alternative hypotheses. The test hypothesis is: Ho: u S $80,060 Ha: u> $80,060 a. Compute the test statistic. b. Determine the p-value, and at a 5% level of significance, test the hypotheses. c. Determine the critical value, and at 5% level of significance, test the hypothesis.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 8PPS
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Page of 4 1. The U.S. Department of Agriculture reported that the average yearly household income of farmers in year 2020 was $80,060. A sample of 900 famers, which was taken in 2021, showed an average yearly household income of $83,311. Assume the standard deviation of the population of farmers' incomes in 2020 is $25,000. We want to test and determine if there has been a significant increase in the average yearly income of farmers. Provide the null and the alternative hypotheses. The test hypothesis is: Ho: u S $80,060 Ha: u> $80,060 a. Compute the test statistic. b. Determine the p-value, and at a 5% level of significance, test the hypotheses. c. Determine the critical value, and at 5% level of significance, test the hypothesis.
Transcribed Image Text:Page of 4 1. The U.S. Department of Agriculture reported that the average yearly household income of farmers in year 2020 was $80,060. A sample of 900 famers, which was taken in 2021, showed an average yearly household income of $83,311. Assume the standard deviation of the population of farmers' incomes in 2020 is $25,000. We want to test and determine if there has been a significant increase in the average yearly income of farmers. Provide the null and the alternative hypotheses. The test hypothesis is: Ho: u S $80,060 Ha: u> $80,060 a. Compute the test statistic. b. Determine the p-value, and at a 5% level of significance, test the hypotheses. c. Determine the critical value, and at 5% level of significance, test the hypothesis.
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