You may need to use the appropriate technology to answer this question. Suppose Michigan State University's Collegiate Employment Institute found that starting salaries for recipients of bachelor's degrees in business was $50,032 in 2017. The results for a sample of 100 business majors receiving a bachelor's degree in 2018 showed a mean starting salary of $51,286 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2018 is greater than the mean starting salary in 2017. Use ? = 0.01 as the level of significance. State the null and alternative hypotheses. (Enter != for ≠ as needed.) H0: Ha: Find the value of the test statistic. (Round your answer to three decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. Reject H0. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.Do not reject H0. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2018. Do not reject H0. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.Reject H0. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.

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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Suppose Michigan State University's Collegiate Employment Institute found that starting salaries for recipients of bachelor's degrees in business was $50,032 in 2017. The results for a sample of 100 business majors receiving a bachelor's degree in 2018 showed a mean starting salary of $51,286 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2018 is greater than the mean starting salary in 2017. Use

? = 0.01

as the level of significance.

State the null and alternative hypotheses. (Enter != for ≠ as needed.)

H₀:

H_a:

Find the value of the test statistic. (Round your answer to three decimal places.)

Find the p-value. (Round your answer to four decimal places.)

p-value =

State your conclusion.

Reject H₀. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.Do not reject H₀. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2018. Do not reject H₀. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.Reject H₀. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.

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