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Author Question: The following information shows the yearly salaries (in $1,000) of samples of physicians for 2013 ... (Read 55 times)

jojoperlo_

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on: Mar 25, 2023

The following information shows the yearly salaries (in $1,000) of samples of physicians for 2013 and 2012.

 

 

(1)

(2)

 

Year 2013

Year 2012

Sample Size

280

244

Sample Mean

790

685

Population Standard Deviation (s)

100

110

 

We want to perform a test to determine if there has been a significant increase in the salaries of physicians.  In your computations, please use “1” to represent year 2013.

 

a.  State the null and alternative hypotheses to be tested.

    Ho:

    Ha:

b.  Compute the test statistic.

c.  The null hypothesis is to be tested at 95% confidence.  Determine the critical value from the table.

d.  What do you conclude?  Fully explain and answer the question.

e.  Compute the p-value.

 

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by jojoperlo_ on Mar 25, 2023

AarionnaH

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Reply #1 on: Mar 25, 2023
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jojoperlo_

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Reply 2 on: Mar 25, 2023
Excellent

milbourne11

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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