The average starting salary of students who graduated from colleges of Business in 2009 was $48,400.A sample of 100graduates of 2010 showed an average starting salary of $50,000. Assume the standarddeviation of the population is known to be $8000. We want to determine whether or not there hasbeen a significant increase in the starting salaries.Step 1. Statement of the hypothesisStep 2. Standardised test statistic formulaStep 3. State the level of significanceStep 4. Decision Rule (Draw a bell to show rejection zone)Step 5. Calculation of the statisticStep 6. Conclusion

Given : Sample size (n) = 100 Sample mean (X¯) = $50000 Population standard deviation (σ) = $8000

Answered: The average starting salary of students…

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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