Jaiden P.

asked • 07/01/23

Using the 2.5% significance level, can you conclude that the ERS claim is false?

The ERS  claims that the average net worth of chicken farmers in Kansas is at least  $40,000. A random sample of 35 chicken farmers had a mean net worth of $28,000. Assume that the net worth of all chicken farmers have a normal distribution with the population standard deviation of $6,000. Using the 2.5% significance level, can you conclude that the ERS claim is false?

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