The Bureau of Labor Statistics Reported That the Average Yearly

question 74

Essay

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.

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Definitions:

Degrees C

A unit of measurement for temperature on the Celsius scale, denoted as "°C."

Impeller

A rotating component of a pump, blower, or compressor designed to move fluid by converting rotational energy into fluid flow.

Jet Pumps

Mechanical devices that use a high velocity jet of fluid to entrain a lower pressure fluid and raise its pressure.

Uni-directional

Capable of moving or operating in only one direction, often used in reference to devices or mechanical components.