The National Bureau of Economic Research (NBER) is a private, nonprofit, nonpartisan research organization. The NBER provides information for better understanding of how the U.S. economy works. Researchers at the NBER concentrate on four types of empirical research: developing new statistical measurements, estimating quantitative models of economic behavior, assessing the effects of public policies on the U.S. economy, and projecting the effects of alternative policy proposals.One of the NBER’s interests is the median income of people in different regions of the United States. The table at the right shows the annual incomes (in dollars) of a random sample of people (15 years and over) in a recent year in four U.S. regions: Northeast, Midwest, South, and West.
In Exercises 1–5, refer to the annual incomes of people in the table. Use for all tests.
Use technology to perform a sign test to test the claim that the median annual income in the Midwest is greater than $30,000.