In: Statistics and Probability
A random sample of 53 individuals shows an average income of $54,083 per year. We know from previous research that the standard deviation for income is 24,470. I hypothesis that the true population mean for income is $51,085 per year. What is the z-statistic for this hypothesis?
Round your answer to four decimal places.
this is the two tailed test .
The null and alternative hypothesis is ,
H0 : = 51,085
Ha : 51,085
Test statistic = z
= ( - ) / / n
= (54083-51085) / 24,470 / 53
= 0.8919
P(z > ) = 1 - P(z < ) =
P-value =
= 0.05
P-value <
Reject the null hypothesis .