A United Nations report shows the mean family income for Mexican migrants to the United States is $27,000 per year. A FLOC(Farm Labor Organizating Committee) evaluation of 25 Mexican family units reveals a 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.
Please refer attached file for complete solution. Work done with the help of equation writer is missing here.
It's a two tailed test.
Sample Mean = =30000
Sample standard deviation=s=10000
Here sample size is less than 30 ...
Solution depicts the steps in hypothesis testing to check if sample statistics disagree with UN report.