Question: (b) Apply an appropriate hypothesis test to determine if the household expenditure of Singapore residents in 2020 is lower than that in 2019, at the

(b) Apply an appropriate hypothesis test to determine if the household expenditure of Singapore residents in 2020 is lower than that in 2019, at the significance level of 1%. Examine the assumptions required to perform the test. Are these assumptions reasonable? Please provide explanations.

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