Posted: February 25th, 2017

Test the hypothesis that the population average income in an area I am interested in is greater than $55,000

Test the hypothesis that the population average income in an area I am interested in is greater than $55,000. If I can show that the mean is indeed greater than that amount I intend to open an up scale restaurant that, by past experience, will probably be successful. If the average income is less than $55,000 my restaurant will probably fail.