Employers (NACE) Summer Salary Survey shows that the current class of college graduates received an average starting-salary offer of $50,994.¹0 Your institution collected an SRS(n = 200) of its recent graduates and obtained a 95% confidence interval of ($51,756, $53,420). What can we conclude about the difference between the average starting salary of recent graduates at your institution and the overall NACE average? Write a short summary.

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Author:Amos Gilat
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Chapter1: Starting With Matlab
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Can you please explain where the critical value and rejection region came from? I attached the question as well. I just need an understanding of where the critical value and rejection came from, please break it down for me because I can't figure it out, thanks.

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6.34
P.365
put last!
μ = $50,994
n = 200
X=¹52588
X =
51,756+153,470
2
m = 1.96 (0/1200) = 52 588 - 51756 = 832
832 (1200)/196
= $6003.19
→ =
Since CI = (51,756.) $53, 420)
2=.05=1-C=1-.95 ⇒ it corresponds
H₂:μ = $50,994
H₁:μ #50,994
=6003.19
Assumptions:
SRS - no idea, so stated & and p-value may be wrong
a
normal population - no idea, but with n=200 > 30, ils robust.
I and p-value may be wrong
J known - ? again,
25
}
1025
TS
52588-50994.
6003,21/√√200
-1.960
1.960 3.75
p-value = 2 P(Z > 3,75) = 2(,0001) = .0002
= 3.75
Since z = 3.75 is in the RR and the p-value = .0002 < 2 = 105,
reject H₂. This is strong evidence that the mean starting
salary at your institution is different from the national
average of $50,994
Transcribed Image Text:6.34 P.365 put last! μ = $50,994 n = 200 X=¹52588 X = 51,756+153,470 2 m = 1.96 (0/1200) = 52 588 - 51756 = 832 832 (1200)/196 = $6003.19 → = Since CI = (51,756.) $53, 420) 2=.05=1-C=1-.95 ⇒ it corresponds H₂:μ = $50,994 H₁:μ #50,994 =6003.19 Assumptions: SRS - no idea, so stated & and p-value may be wrong a normal population - no idea, but with n=200 > 30, ils robust. I and p-value may be wrong J known - ? again, 25 } 1025 TS 52588-50994. 6003,21/√√200 -1.960 1.960 3.75 p-value = 2 P(Z > 3,75) = 2(,0001) = .0002 = 3.75 Since z = 3.75 is in the RR and the p-value = .0002 < 2 = 105, reject H₂. This is strong evidence that the mean starting salary at your institution is different from the national average of $50,994
6.12 Average starting salary. The National Association of Colleges and
Employers (NACE) Summer Salary Survey shows that the current class of college
graduates received an average starting-salary offer of $50,994.¹0 Your institution
collected an SRS(n = 200) of its recent graduates and obtained a 95% confidence
interval of ($51,756, $53,420). What can we conclude about the difference between
the average starting salary of recent graduates at your institution and the overall
NACE average? Write a short summary.
Transcribed Image Text:6.12 Average starting salary. The National Association of Colleges and Employers (NACE) Summer Salary Survey shows that the current class of college graduates received an average starting-salary offer of $50,994.¹0 Your institution collected an SRS(n = 200) of its recent graduates and obtained a 95% confidence interval of ($51,756, $53,420). What can we conclude about the difference between the average starting salary of recent graduates at your institution and the overall NACE average? Write a short summary.
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