The average salary for American college graduates is $45,900. 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 $41,473 and a standard deviation of $14,360. What can be concluded at the a = 0.05 level of significance?

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g. Thus, the final conclusion is that ...
O The data suggest that the population mean is not significantly different from 45,900 at a =
0.05, so there is statistically insignificant evidence to conclude that the population mean
salary for graduates from your college is different from 45,900.
O The data suggest that the populaton mean is significantly different from 45,900 at a = 0.05,
so there is statistically significant evidence to conclude that the population mean salary for
graduates from your college is different from 45,900.
O The data suggest that the sample mean is not significantly different from 45,900 at a = 0.05,
so there is statistically insignificant evidence to conclude that the sample mean salary for
graduates from your college is different from 41,473.
h. Interpret the p-value in the context of the study.
O There is a 1.81698442% chance that the population mean salary for graduates from your
college is not equal to $45,900 .
O If the population mean salary for graduates from your college is $45,900 and if another 62
graduates from your college are surveyed then there would be a 1.81698442% chance that the
population mean would either be less than $41,473 or greater than $50,327.
O If the population mean salary for graduates from your college is $45,900 and if another 62
graduates from your college are surveyed then there would be a 1.81698442% chance that the
sample mean for these 62 graduates from your college would either be less than $41,473 or
greater than $50,327.
O There is a 1.81698442% chance of a Type I error.
i. Interpret the level of significance in the context of the study.
O If the population population mean salary for graduates from your college is different from
$45,900 and if another 62 graduates from your college are surveyed then there would be a 5%
chance that we would end up falsely concluding that the population mean salary for graduates
from your college is equal to $45,900.
O There is a 5% chance that the population mean salary for graduates from your college is
different from $45,900.
O f the population mean salary for graduates from your college is $45,900 and if another 62
graduates from your college are surveyed then there would be a 5% chance that we would end
up falsely concluding that the population mean salary for graduates from your college is
different from $45,900.
Transcribed Image Text:g. Thus, the final conclusion is that ... O The data suggest that the population mean is not significantly different from 45,900 at a = 0.05, so there is statistically insignificant evidence to conclude that the population mean salary for graduates from your college is different from 45,900. O The data suggest that the populaton mean is significantly different from 45,900 at a = 0.05, so there is statistically significant evidence to conclude that the population mean salary for graduates from your college is different from 45,900. O The data suggest that the sample mean is not significantly different from 45,900 at a = 0.05, so there is statistically insignificant evidence to conclude that the sample mean salary for graduates from your college is different from 41,473. h. Interpret the p-value in the context of the study. O There is a 1.81698442% chance that the population mean salary for graduates from your college is not equal to $45,900 . O If the population mean salary for graduates from your college is $45,900 and if another 62 graduates from your college are surveyed then there would be a 1.81698442% chance that the population mean would either be less than $41,473 or greater than $50,327. O If the population mean salary for graduates from your college is $45,900 and if another 62 graduates from your college are surveyed then there would be a 1.81698442% chance that the sample mean for these 62 graduates from your college would either be less than $41,473 or greater than $50,327. O There is a 1.81698442% chance of a Type I error. i. Interpret the level of significance in the context of the study. O If the population population mean salary for graduates from your college is different from $45,900 and if another 62 graduates from your college are surveyed then there would be a 5% chance that we would end up falsely concluding that the population mean salary for graduates from your college is equal to $45,900. O There is a 5% chance that the population mean salary for graduates from your college is different from $45,900. O f the population mean salary for graduates from your college is $45,900 and if another 62 graduates from your college are surveyed then there would be a 5% chance that we would end up falsely concluding that the population mean salary for graduates from your college is different from $45,900.
The average salary for American college graduates is $45,900. 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 $41,473 and a standard deviation of $14,360. What can be concluded at the a = 0.05 level of
significance?
Transcribed Image Text:The average salary for American college graduates is $45,900. 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 $41,473 and a standard deviation of $14,360. What can be concluded at the a = 0.05 level of significance?
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