Question: We take a random sample of 70 students in a college in NJ. The mean family income in the sample is $59,000 and the standard

We take a random sample of 70 students in a college in NJ. The mean family income in the sample is $59,000 and the standard deviation is $14,000. Find a 99% confidence Interval. Assume a = significance level = 0.10. your null hypothesis is that the mean income is $56,000. The alternative hypothesis is that the mean is different than $56 ,000. Find the test statistic. Do you reject your null hypothesis? Interpret your result

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