During 2008, college work-study students earned a mean of $1478. Assume that a sample consisting of 25 of the work-study students at a large university was found to have earned a mean of $1503 during that year, with a standard deviation of $210. At the 0.05 level of significance, can we suggest that the average earnings of this university’s work-study students were significantly higher than the national mean? if the null and alternative hypotheses are used to suggest that the average earnings of this university’s work-study students were significantly higher than the national mean. At 5%% level of significance, find the critical value (s).       (-1.711 , 1.711)     -1.711     1.711     1.712

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.