In: Statistics and Probability
Skitzy Schizophrenic at the American Medical Association wrote a report recently that stated the average annual salary of psychiatrists is $185,000 with a population standard deviation of $27,000 (σ= 27000). A group of hospital administrators in the Northeast randomly sampled 64 psychiatrists (n = 64) to test to see if psychiatrists in their region have a different average. Their sample was found to have an average annual salary of $194,630 .