Please answer the question and all its parts below in full.

Part 2: Statistics and Linear Regression (There are some potentially helpful formulas at the end of the exam) Suppose you wanted to know the mean wage of high school drop-outs in the Grand Rapids area. You collect a random sample of 10 people who are currently working, asking them to report their hourly wage. Here are the data: Observation Wage Observation Wage 1 $8.75 6 $10.00 2 $10.00 7 $8.00 3 $10.25 8 $7.50 4 $6.50 9 $12.75 5 $15.00 10 $9.25 1) The sample mean is an unbiased estimator of the true (population) mean. What does this mean? 2) Using your sample and assuming that the distribution of wages is Normal, test the hypothesis that the population mean is equal to $10 using a "level of significance" (a) equal to .05 3) What is the meaning of the" level of significance" of a hypothesis test? 4) Suppose a sample of 1,547 full-time, year-round workers living in Kent County was collected in 2016. 2 The sample mean annual earnings was $59,295.33 and the sample standard deviation was 64,330.76. Test the hypothesis that the mean income for these workers was $50,000. 5) Explain why we did NOT need to assume that the distribution of wages is Normal for problem (4)