a study is done to determine the median income of Americans. Data is obtained from 24 randomly selected individuals as follows. 39263, 40439, 33758, 32359, 31762, 35316, 39785, 32401, 39129, 38908, 39...
a study is done to determine the median income of Americans. Data is obtained from 24 randomly selected individuals as follows.
39263, 40439, 33758, 32359, 31762, 35316, 39785, 32401, 39129, 38908, 39187, 36491, 37367, 39093, 40822, 39422, 37126, 31672, 38966, 37616, 33760, 38833, 33457, 40233
a) Conduct a hypothesis test to determine with 99% confidence if the median is equal to $39500 or not.
b) Construct a 95% confidence interval on the median of the population.
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a study is done to determine the median income of Americans. Data is obtained from 24 randomly selected individuals as follows. 39263, 40439, 33758, 32359, 31762, 35316, 39785, 32401, 39129, 38908, 39...
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were
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State the meaning of the interval in the context of the
problem.
Use the given data to construct a confidence interval at the
requested level:
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