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Question
A group of young businesswomen wish to open a high fashion boutique in a vacant store, but only if the average income of households in the area is more than $45,000. A random sample of 9 households showed the following results.| $48,000 | $44,000 | $46,000 |
| $43,000 | $47,000 | $46,000 |
| $44,000 | $42,000 | $45,000 |
Use the statistical techniques in Excel to advise the group on whether or not they should locate the boutique in this store. Use a .05 level of significance. (Assume the population is normally distributed.)
Answer
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