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.)The p-value = (Please show your answer to 4 decimal places.)The p-value is ααBased on this, we should the null hypothesis.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.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.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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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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?

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.)
The p-value = (Please show your answer to 4 decimal places.)
The p-value is αα
Based on this, we should the null hypothesis.
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.
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.
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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