A financial institution has decided to open an office in a


A financial institution has decided to open an office in a certain community if it can be established that the median annual income of families in the community is greater than $90,000. To obtain information, a random sample of 80 families was chosen, and the family incomes determined. If 28 of these families had annual incomes below and 52 had annual incomes above $90,000, is this significant enough to establish, say, at the 5 percent level of significance, that the median annual income in the community is greater than $90,000?

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Basic Statistics: A financial institution has decided to open an office in a
Reference No:- TGS01197249

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