A magazine claims to its advertiser that the mean income of its readers is $75,000. One of the advertisers is skeptical and surveys 39 readers, finding that the average reader's income is $69,530 with a standard deviation of $9,920. Test to determine if the mean income is lower than the company's stated value using α = 0.025.
Reject H0 Conclude that mean... View the full answer
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The null and alternative hypotheses are, H 0 : μ = 7 5 0 0 0 H a : μ < 7 5 0 0 0 ... View the full answer