2. The mean Colorado household income in 2022 was $80,200. A researcher claims that this is...
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2. The mean Colorado household income in 2022 was $80,200. A researcher claims that this is likely not true due to confounding issues created by the COVID-19 pandemic. A recent random sample of 30 Colorado households produced a mean income of $88,900 with a standard deviation of $15,300. a. State the null and alternative hypotheses. b. Determine the correct distribution and critical value(s) using a = 0.01 c. Compute the appropriate test statistic and it's corresponding p-value. d. Make your decision about the evidence and provide a justification. 2. The mean Colorado household income in 2022 was $80,200. A researcher claims that this is likely not true due to confounding issues created by the COVID-19 pandemic. A recent random sample of 30 Colorado households produced a mean income of $88,900 with a standard deviation of $15,300. a. State the null and alternative hypotheses. b. Determine the correct distribution and critical value(s) using a = 0.01 c. Compute the appropriate test statistic and it's corresponding p-value. d. Make your decision about the evidence and provide a justification.
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