researcher is interested to see if having a college degree results in higher incomes. She knows the average income for the general population (in thousands) is μ = 39.5, with a standard deviation of σ = 2.1. She collects a sample of 25 college graduates (N) and determines
A researcher is interested to see if having a college degree results in higher incomes. She knows the average income for the general population (in thousands) is μ = 39.5, with a standard deviation of σ = 2.1. She collects a sample of 25 college graduates (N) and determines that their average sample income is xbar = 41.7, with a standard deviation of Sx = 3.3.
A. Please calculate and report the appropriate statistic, showing all your steps.
B. Based on the critical values of +/- 1.96 and obtained the test-statistic, would you retain or reject the null hypothesis ?
C. Would your obtained p-value was bigger or smaller than the alpha level you chose?
D. In everyday language, what do these results tell you about the research question?
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