For this assignment, we will narrow down to the economic well-being of the St. Louis region. You are interested in creating a Hypothesis Test about the economic well-being of the area. Discuss the following issues:

First, think about your research hypothesis and justify it briefly. Remember, a hypothesis is a well-thought and untested proposition.

What is the null hypothesis?

What is the parameter you are interested in? (i.e., the measure of well-being).

Is it going to be a Lower-Tail, Upper-Tail or Two-Tailed test?

What is the data that you need and how will you collect the data?

What does rejecting the null hypothesis mean for your test? What does failing to reject the null mean for your test?