I need to use Excel to solve the following: A United Nations report shows the mean...

I need to use Excel to solve the following:

A United Nations report shows the mean family income for Mexican migrants to the United States is $27,000 per year. A Farm Labor Organizing Committee evaluation of 25 Mexican family units reveals the mean to be $30,000 with a sample standard deviation of $10,000. Does this information disagree with the United Nations report? Apply the .01 significance level.

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Expert Solution

n=25

Sample mean,

The standard deviation of sample is

We have to test if the Farm Labor Organizing Committee’s report disagree with the United Nations report

We have to test

H0:

H1:

The test statistic to test the above hypotheses is

The table value of t at 0.01 level of significance with 24df is 2.79694

i.e. t(0.99,24) = 2.79694

The calculated value of test statistic t is less than the table value of t, which suggests that we do have enough evidence against Null hypothesis to reject it so we fail to reject the null hypothesis and conclude that Farm Labor Organizing Committee’s report does not disagree with the United Nations report

orchestra answered 1 year ago

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