Can somebody explain me how to solve this hypothesis test exercise, and what formulas should I use? Individually, it generates in Excel a series of 35 numbers that allow you to obtain information about the amount spent monthly in a family of socio-economic level (low, medium or high), determines the following: 3000 8500 19000 3000 8500 20000 3100 9000 21000 3100 9000 22500 3500 9500 23000 3550 9500 4500 9500 4500 12000 5000 12500 5500 13000 5500 14000 6500 14500 6500 14500 7000 18000 8000 19000 (This are my 35 numbers) MEAN: 10250 STANDARD DEVIATION: 6168.31 A)Upper limit of expenses B)Lower limit of expenses 1.- For the total data set: Suppose you have the information that the average spending of an upper class is $ 13,000. With the previous data, test the following hypotheses: $ 13,000 $ 13,000 With a significance level of 0.05. You will have to perform all the stages of a hypothesis test, and it concludes in the context of the problem: is the average of the upper limit of expenses different from $ 13,000? 2.- For socioeconomic level data: Suppose you have information that the average spending of a low socio-economic level is $ 5,500. With these data, test the following hypotheses: $ 5,500 $ 5,500 With a significance level of 0.05. Performs all stages of a hypothesis test and concludes in the context of the problem: is the lower spending limit different from $ 5,500? 3.- Suppose you have information that the average expenditure of an average socio-economic level is $ 8,500. With these data, test the following hypotheses: $ 8,500 $ 8,500 With a significance level of 0.05. Performs all stages of a hypothesis test and concludes in the context of the problem: is the lower spending limit different from $ 8,500? Difference between two means 4.- Suppose the higher level of expenses varies according to a Normal distribution = $ 1,200 What size should the sample be to estimate the mean  with a 95% confidence and that the margin of error is not greater than 10? How large should the sample be to estimate the mean  with a 99% confidence and that the margin of error does not exceed 10 degrees of freedom? 5.-Consider the data of the level of expenses of the 35 people, calculate their mean and standard deviation or, if you have the data, use them in the following: Test the hypothesis that the highest level of expenses is  = 12,000 against the alternative of which   12,000. Use  = .05 / li>