The following information regarding the yearly salaries (in $1,000) of CEO's in 2010 and 2009 are provided. 
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.
Definitions:
Direct Labor Hours
A measure of the total hours worked directly on producing goods, typically used in manufacturing and cost accounting.
Departmental Overhead Rate
A method used to allocate indirect costs to specific departments based on their respective activities or usage.
Cutting Department
A division in manufacturing where materials are cut to size or shape before moving to the next production phase.
Direct Labor Hours
The total hours worked by employees who directly participate in the production of goods detailed.
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