Step 1
Step 1
H0: there is no significant difference between Averange household income and 60K
One-Sample Statistics
Averange household income of 6400 participants is 69475$ with the standard deviation is 78719$
One-Sample Test
Test Value = 60
t=9.629 , p<0.001
Reject the H0
There is a significant difference between Averange household Income and 60k. The household
Income is 9475$ bigger than the value of 60K, and it is significant at 0.001 level