Statistics Phase 3

This week you will begin working on Phase 3 of your course project. Using the same attached data set and variables for your selected topic, add the following information to your analysis:Discuss the process for hypothesis testing.Discuss the 8 steps of hypothesis testing?When performing the 8 steps for hypothesis testing, which method do you prefer; P-Value method or Critical Value method? Why?Perform the hypothesis test-Original Claim: The average salary for all jobs in Minnesota is less than $65,000.Test the claim using α = 0.05 and assume your data is normally distributed and σ is unknownBased on your selected topic, answer the following:Write the null and alternative hypothesis symbolically and identify which hypothesis is the claim.Is the test two-tailed, left-tailed, or right-tailed? Explain.Which test statistic will you use for your hypothesis test; z-test or t-test? Explain.What is the value of the test-statistic? What is the P-value?What is the critical value?What is your decision; reject the null or do not reject the null?Explain why you made your decision including the results for your p-value and the critical value.State the final conclusion in non-technical terms.Please show your work for the construction of the test-statistic and explain your process for finding the p-value and critical value. Be sure to use the Equation Editor to format your equations.This assignment should be formatted using APA guidelines and a minimum of 2 pages in length.

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