The average salary for American college graduates is $44,200. You suspect that the average is different for graduates from your college. The 62 randomly selected graduates from your college had an average salary of $47,138 and a standard deviation of $8,340. What can be concluded at the  αα = 0.10 level of significance? For this study, we should use     The null and alternative hypotheses would be:       H0:H0:                   H1:H1:               The test statistic     =  (please show your answer to 3 decimal places.)

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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The average salary for American college graduates is $44,200. You suspect that the average is different for graduates from your college. The 62 randomly selected graduates from your college had an average salary of $47,138 and a standard deviation of $8,340. What can be concluded at the  αα = 0.10 level of significance?

  1. For this study, we should use    
  2. The null and alternative hypotheses would be:     

 H0:H0:                 

 H1:H1:              

  1. The test statistic     =  (please show your answer to 3 decimal places.)
  2. The p-value =  (Please show your answer to 4 decimal places.)
  3. The p-value is     αα
  4. Based on this, we should      the null hypothesis.
  5. Thus, the final conclusion is that ...
    • The data suggest that the sample mean is not significantly different from 44,200 at αα = 0.10, so there is statistically insignificant evidence to conclude that the sample mean salary for graduates from your college is different from 47,138.
    • The data suggest that the populaton mean is significantly different from 44,200 at αα = 0.10, so there is statistically significant evidence to conclude that the population mean salary for graduates from your college is different from 44,200.
    • The data suggest that the population mean is not significantly different from 44,200 at αα = 0.10, so there is statistically insignificant evidence to conclude that the population mean salary for graduates from your college is different from 44,200.
  6. Interpret the p-value in the context of the study.
    • There is a 0.73443658000001% chance that the population mean salary for graduates from your college is not equal to $44,200 .
    • If the population mean salary for graduates from your college is $44,200 and if another 62 graduates from your college are surveyed then there would be a 0.73443658000001% chance that the population mean would either be less than $41,262 or greater than $47,138.
    • There is a 0.73443658000001% chance of a Type I error.
    • If the population mean salary for graduates from your college is $44,200 and if another 62 graduates from your college are surveyed then there would be a 0.73443658000001% chance that the sample mean for these 62 graduates from your college would either be less than $41,262 or greater than $47,138.
  7. Interpret the level of significance in the context of the study.
    • If the population population mean salary for graduates from your college is different from $44,200 and if another 62 graduates from your college are surveyed then there would be a 10% chance that we would end up falsely concluding that the population mean salary for graduates from your college is equal to $44,200.
    • There is a 10% chance that your won't graduate, so what's the point?
    • There is a 10% chance that the population mean salary for graduates from your college is different from $44,200.
    • If the population mean salary for graduates from your college is $44,200 and if another 62 graduates from your college are surveyed then there would be a 10% chance that we would end up falsely concluding that the population mean salary for graduates from your college is different from $44,200.
    •  
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