The Following Information Regarding the Yearly Salaries in $1,000) of CEO's

question 193

Essay

The following information regarding the yearly salaries in $1,000) of CEO's in 2010 and 2009 are provided.
$\begin{array}{|l|c|c|}\hline & \text { Year 2010 } & \text { Year 2009 } \\\hline \text { Sample size } & 190 & 145\\\hline \text { Sample Mean } & 560 & 540 \\\hline \text { Population Standard Deviation } & 80 & 90 \\\hline\end{array}$
a. At 95% confidence, perform a test to determine if there has been a significant increase in the
salaries of CEO's. Use the Critical Value Approach.
b. Compute the p-value.

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