Examlex
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.
Q11: Consider the following hypothesis test:<br>H<sub>o</sub>: <span
Q13: In order to estimate the difference between
Q23: Refer to Exhibit 10-12. The 95% confidence
Q31: To compute an interval estimate for the
Q56: Refer to Exhibit 12-6. The expected frequency
Q70: We are interested in determining whether or
Q93: Four percent of the customers of a
Q93: A subset of a population selected to
Q100: A random variable that can assume only
Q134: Given that Z is a standard normal