Table 10.5.3 gives lower limits of income (approximated to nearest $1000 and calculated as of March of the following year) by race for the top 5% of US households from 1994 to 1998. (Source: US Census Bureau.)
(a) Test at the 0.05 level whether the true lower limits of income for the top 5% of US households for each race are the same for all 5 years.
(b) If there is a difference, use Tukey€™s method to find which is different.
(c) Interpret your results and state any assumptions you have made in solving the problem.
Table 10.5.3

Transcribed Image Text:

1994 Race All Races White Black Hispanic 1996 120 123 85 86 1998 132 136 1995 1997 127 130 113 110 113 81 8