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Author Question: The Bureau of Labor Statistics reported that the average yearly income of dentists in the year 2009 ... (Read 57 times)

kmcolvin

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on: Mar 25, 2023

The Bureau of Labor Statistics reported that the average yearly income of dentists in the year 2009 was $110,000.  A sample of 81 dentists, which was taken in 2010, showed an average yearly income of $120,000.  Assume the standard deviation of the population of dentists in 2010 is $36,000.

a.

We want to test to determine if there has been a significant increase in the average yearly income of dentists.  Provide the null and the alternative hypotheses.

b.

Compute the test statistic.

c.

Determine the p-value; and at 95% confidence, test the hypotheses.

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

psuniv

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Reply #1 on: Mar 25, 2023
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kmcolvin

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Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

31809pancho

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

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