The average starting salary of students who graduated from colleges of Business in 2009 was $48,800. A sample of 100 graduates of 2010 showed an average starting salary of $50,000. Assume the standard deviation of the population is known to be $7000. We want to determine whether or not there has been a significant increase in the starting salaries. State the null and alternative hypotheses to be tested. a. b. Compute the test statistic. The null hypothesis is to be tested at the 5% level of significance. Determine the critical value с. for this test. d. What do you conclude from the test? What does the test result mean in the context of this problem? e. ti
The average starting salary of students who graduated from colleges of Business in 2009 was $48,800. A sample of 100 graduates of 2010 showed an average starting salary of $50,000. Assume the standard deviation of the population is known to be $7000. We want to determine whether or not there has been a significant increase in the starting salaries. State the null and alternative hypotheses to be tested. a. b. Compute the test statistic. The null hypothesis is to be tested at the 5% level of significance. Determine the critical value с. for this test. d. What do you conclude from the test? What does the test result mean in the context of this problem? e. ti
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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Transcribed Image Text:The average starting salary of students who graduated from colleges of Business in 2009 was $48,800. A sample of 100
graduates of 2010 showed an average starting salary of $50,000. Assume the standard deviation of the population is
known to be $7000. We want to determine whether or not there has been a significant increase in the starting salaries.
State the null and alternative hypotheses to be tested.
a.
b. Compute the test statistic.
The null hypothesis is to be tested at the 5% level of significance. Determine the critical value
с.
for this test.
d. What do you conclude from the test?
What does the test result mean in the context of this problem?
е.
a.
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