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Explain the appropriate statistical analysis for the following hypothesis: H1: The average household income in zip...

  1. Explain the appropriate statistical analysis for the following hypothesis:

H1: The average household income in zip code 71227 is greater than $50,000.

Math   Statistics-And-Probability   
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Answer #1

H1: The average household income in zip code 71227 is greater than $50,000.

Answer :

This is univariate or one sample hypothesis test , here variable : income ,

one sample hypothesis tests comparing some observed sample mean against a benchmark value . the test addresses the question , is the sample mean truly different from the benchmark ? the level of scale

measurement is ratio scaled . and if the sample size is large . parametric statistical procedures are appropriate

in this case a one sample t test is appropriate for testing this hypothesis because in involves an observed

mean income against the value of $ 50000

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