What proportion of the households spend less

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Reference no: EM13138403

54 31 49 52 84 74 80 84 19 38 59 61 41 46 29 70 24 67 59 51 49 51 61 40 63 69 51 63 46 26 18 78 85 53 79 56 69 65 33 29 36 38 55 39 58 34 72 40 49 38 27 77 31 25 63 53

The figures above (in thousands of dollars) are weekly expenditures of 56 households in a community.

1) What proportion of the households spend less than $38,000 a week?

2) If the weekly average expenditure of all households is $53,000 but an expert argues that the weekly expenditure is more than $53,000, test his claim at a 5% level of significance and interpret your results.

Reference no: EM13138403

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