We know that the wage distribution in the US is not normally distributed. It is closer to a pareto distribution. We take a random sample of 1000 individuals and compute the sample mean earnings .What...

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Extracted text: We know that the wage distribution in the US is not normally distributed. It is closer to a pareto distribution. We take a random sample of 1000 individuals and compute the sample mean earnings .What is the distribution of ? It is normally distributed according to the central limit theorem The distribution is unknown O It has a pareto distribution since it is drawn from a pareto distribution O t has a bernouilli dstribution Question 5 We randomly sample 1286 high school students in California. The sample average is 659 with standard deviation 18. The State of California set the objective that students perform higher than 650. Are California students performing differently than the state objective? Run a statistical test and assess (2 decimal places) The t-value of the test Its corresponding p-value The lower bound of the 95\% confidence interval is The upper bound of the 95\% confidence interval is