A United Nations report shows the mean family income for Mexican migrants to the United States is $27,150 per year. A FLOC (Farm Labor Organizing Committee) evaluation of 30 Mexican family units reveals a mean to be $29,500 with a sample standard deviation of $11,150. Does this information disagree with the United Nations report? Apply the 0.01 significance level.
(a) State the null hypothesis and the alternate hypothesis.
(b) State the decision rule for .01 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)
(c) Compute the value of the test statistic. (Round your answer to 2 decimal places.)