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Author Question: The average starting salary of students who graduated from colleges of Business in 2009 was $48,400. ... (Read 64 times)

heyheyhey

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on: Mar 25, 2023

The average starting salary of students who graduated from colleges of Business in 2009 was $48,400.  A sample of 100 graduates of 2010 showed an average starting salary of $50,000.  Assume the standard deviation of the population is known to be $8,000.  We want to determine whether or not there has been a significant increase in the starting salaries.

a.

State the null and alternative hypotheses to be tested.
b.Compute the test statistic.
c.The null hypothesis is to be tested at 95% confidence.  Determine the critical value for this test.
d.What do you conclude?
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 heyheyhey on Mar 25, 2023

avelasquez

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Reply #1 on: Mar 25, 2023
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heyheyhey

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Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

meganmoser117

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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