The Dean of a Business School Claims That the Average

question 214

Multiple Choice

The dean of a business school claims that the average starting salary of its graduates is more than $50,000. It is known that the population standard deviation is $10,000. Sample data on the starting salaries of 36 randomly selected recent graduates yielded a mean of $52,000. What is the value of the sample test statistic?

• A) z = 1.2
• B) t = 7.2
• C) t = 0.12
• D) t = 1.22
• E) None of these statements are true

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Definitions:

Professional Managers

Individuals or entities specialized in overseeing and making managerial decisions for businesses or organizations to ensure their effective and efficient operation.

Close Corporations

Privately held businesses with a small number of shareholders and no public market for their shares, often operated by the shareholders themselves.

General Incorporation Statutes

Laws that provide the procedures and regulations for forming a corporation.

Benefited The Public

Actions or policies that have a positive impact on society or the community at large.