The average salary for American college graduates is $48,600. You suspect that the average is less for graduates from your college. The 49 randomly selected graduates from your college had an average salary of $46,486 and a standard deviation of $9,200. What can be concluded at the αα = 0.01 level of significance?For this study, we should use Select an answer t-test for a population mean z-test for a population proportion The null and alternative hypotheses would be: H0:H0: ? p μ Select an answer = ≠ > < H1:H1: ? μ p Select an answer > ≠ = < The test statistic ? z t = (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 Select an answer reject accept fail to reject the null hypothesis.Thus, the final conclusion is that .

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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 $48,600. You suspect that the average is less for graduates from your college. The 49 randomly selected graduates from your college had an average salary of $46,486 and a standard deviation of $9,200. What can be concluded at the αα = 0.01 level of significance?

For this study, we should use Select an answer t-test for a population mean z-test for a population proportion
The null and alternative hypotheses would be:

H0:H0: ? p μ Select an answer = ≠ > <

H1:H1: ? μ p Select an answer > ≠ = <

The test statistic ? z t = (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 Select an answer reject accept fail to reject the null hypothesis.
Thus, the final conclusion is that .

Expert Solution

Step 1

The provided information are:

Step 2

The appropriate null and alternative hypotheses are:

The alternative hypothesis suggests that the test is left-tailed

(1)

Here, the population standard deviation is unknown, so the appropriate test is t-test.

The test statistic can be calculated as:

Step 3

The sample size (n) is 49.

Degrees of freedom (df) = n-1 = 49-1=48

(2)

The P-value can be calculated as:

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