73 graduates who went on to work in Marketing have a mean salary of £48,286 with...

73 graduates who went on to work in Marketing have a mean salary of £48,286 with a standard deviation of £9,690, while the 202 graduates who went on to work in Finance have a mean salary of £61,130 with a standard deviation of £10,284. Assume you are advising students to take jobs in Marketing as opposed to Finance jobs upon graduation:

i. Set up the hypothesis to test in order to achieve your objective and explain why you selected it.

ii. Based on the data above, indicate whether your hypothesis is supported.

Solutions

Expert Solution

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Suppose a 95% confidence interval for the mean salary of college graduates in a town in...

Suppose a 95% confidence interval for the mean salary of college graduates in a town in Mississippi is given by [$34,321, $41,279]. The population standard deviation used for the analysis is known to be $14,200. a. What is the point estimate of the mean salary for all college graduates in this town? b. Determine the sample size used for the analysis. (Round "z" value to 3 decimal places and final answer to the nearest whole number.)

Suppose a 99% confidence interval for the mean salary of college graduates in a town...

Suppose a 99% confidence interval for the mean salary of college graduates in a town in Mississippi is given by [$39,986, $48,414]. The population standard deviation used for the analysis is known to be $14,700. a. What is the point estimate of the mean salary for all college graduates in this town? Point estimate b. Determine the sample size used for the analysis. Sample size

The annual salary of fresh college graduates is thought to be normally distributed with a mean...

The annual salary of fresh college graduates is thought to be normally distributed with a mean of $45,000 and standard deviation of $8000. Do the following. (a) What is the z −score of the salary of $55,000? (10 points) (b) If you randomly select such a graduate, what is the probability that he/she will be earning a salary of $55,000 or less? (Use z −score and Excel function to calculate this) (10 points) (c) If you randomly select such a...

The mean starting salary for college graduates in spring of 2018 was $43,200. Assume that the...

The mean starting salary for college graduates in spring of 2018 was $43,200. Assume that the distribution of starting salaries follows the normal distribution with a standard deviation of $3500. What percent of the graduates have starting salaries: A.) Less than $38,000? B.) More than $45,000? C.) Between $38,000 and $45,000?

Suppose a 90% confidence interval for the mean salary of college graduates in a town in...

Suppose a 90% confidence interval for the mean salary of college graduates in a town in Mississippi is given by [$45,783, $57,017]. The population standard deviation used for the analysis is known to be $13,700. [You may find it useful to reference the z table.] a. What is the point estimate of the mean salary for all college graduates in this town? b. Determine the sample size used for the analysis. (Round "z" value to 3 decimal places and final...

Starting salaries of 90 college graduates who have taken a statistics course have a mean of...

Starting salaries of 90 college graduates who have taken a statistics course have a mean of $43,993 and a standard deviation of $9,144. Using 99% confidence level, find the following: A. Margin of error E B. The confidenxe interval for the mean u

Starting salaries of 140 college graduates who have taken a statistics course have a mean of...

Starting salaries of 140 college graduates who have taken a statistics course have a mean of $43,910. The population standard deviation is known to be $10,625. Using 99% confidence, find both of the following: A. The margin of error: B. Confidence interval: , .

Starting salaries of 64 college graduates who have taken a statistics course have a mean of...

Starting salaries of 64 college graduates who have taken a statistics course have a mean of $43,500 with a standard deviation of $6,800. Find an 80% confidence interval for ? μ . (NOTE: Do not use commas or dollar signs in your answers. Round each bound to three decimal places.) Find upper and lower bounds.

Starting salaries of 60 college graduates who have taken a statistics course have a mean of...

Starting salaries of 60 college graduates who have taken a statistics course have a mean of 43,515. Suppose the distribution of this population is approximately normal and has a standard deviation of 10,863. Using the 98% confidence level, find both the following: the margin error the confidence interval for the mean ų:________ <ų<_______

Starting salaries of 120 college graduates who have taken a statistics course have a mean of...

Starting salaries of 120 college graduates who have taken a statistics course have a mean of $44,449. Suppose the distribution of this population is approximately normal and has a standard deviation of $9,768. Using a 99% confidence level, find both of the following: (NOTE: Do not use commas nor dollar signs in your answers.) (a) The margin of error E: (b) The confidence interval for the mean :

Subjects