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a) State the null and alternative hypotheses, b) Verify that the requirements that allow use of...

a) State the null and alternative hypotheses, b) Verify that the requirements that allow use of the normal model to test the hypothesis are satisfied, c) Show work for calculating the test statistic, d) Compare the critical value with the test statistic, and e) State the conclusion. The mean annual cost of raising a child (age 2 and under) by husband-wife families in the U.S. is $13,960. In a random sample of husband-wife families in the U.S., the mean annual cost of raising a child (age 2 and under) was $13,725, with a standard deviation of $2345. The sample consists of 100 children. Is there enough evidence to conclude that the mean annual cost of raising a child is not $13,960? Use an α = 0.10 level of significance.

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