Author Question: It is believed that the median yearly income in a suburb of Atlanta is 70,000 . A sample of 67 ... (Read 62 times)

scienceeasy · **on:** Jun 24, 2018

It is believed that the median yearly income in a suburb of Atlanta is 70,000 . A sample of 67 residents was taken. Thirty-eight had yearly incomes above 70,000, 26 had yearly incomes below 70,000, and 3 had yearly incomes equal to 70,000 . The null hypothesis to be tested is H0: Median = 70,000 . The null hypothesis should _____.
a. be rejected
b. not be rejected
c. be revised
d. None of the answers is correct.

Question 2

The minimum expected opportunity loss provides the best decision, regardless of whether the decision analysis involves minimization or maximization.
Indicate whether the statement is true or false