Explain the Appropriate Statistical Analysis for the Following Hypothesis

question 3

Essay

Explain the appropriate statistical analysis for the following hypothesis:
H₁: The average household income in zip code 71227 is greater than $50,000.

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Definitions:

Atoms

The basic units of matter, consisting of a nucleus surrounded by electrons.

Molecules

Molecules are groups of two or more atoms held together by chemical bonds, forming the smallest identifiable unit into which a pure substance can be divided while retaining its composition and chemical properties.

Ions

Atoms or molecules with an electrical charge due to the loss or gain of one or more electrons.

Molecule

A molecule is the smallest unit of a chemical compound that retains its chemical properties, consisting of two or more atoms bonded together.