Five Years Ago, the Average Starting Salary of a New

question 70

Essay

Five years ago, the average starting salary of a new university graduate with a major in marketing was $34,000. A random sample of 10 graduates from this year's graduating class of a local university yielded the following starting salaries in thousands of dollars: 28, 36, 25, 37, 35, 24, 38, 45, 39, 36. The population of starting salaries in marketing is not normally distributed.
The local university wants to determine if the median starting salary for marketing graduates has increased in the last five years.

-Assume that the population of starting salaries in marketing is not normally distributed.The p-value is found to be .0547.Using a = .10,can we conclude that the starting salaries have increased in the last five years?

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Definitions:

Managers

Individuals in charge of directing and overseeing the operations and employees within a segment of an organization to achieve certain objectives.

Contingency-Oriented

An approach or mindset focused on planning and preparing for various possible futures or outcomes.

OB Theories

Theories in Organizational Behavior that examine how individuals and groups act within organizations, aiming to understand, predict, and influence employee behavior.

Authentic Laughter

Genuine laughter that reflects true amusement, joy, or happiness, as opposed to forced or fake laughter.