Question
In: Statistics and Probability
The dean of the College of Business at the University of La Verne has observed for...
The dean of the College of Business at the University of La Verne has observed for several years and found that the probability distribution of the salary of the alumni’s first job after graduation is normal. The college collected information from 121 alumni and finds that the mean of their salary is $60k. Assuming a 95% confidence level, please do the following 1. Suppose the standard deviation of the collected data from 121 alumni is $3k. Can we conclude that the true mean of alumni salary is different from $58k
(a) What are the null and alternate hypotheses?
(b) Decide on the test statistic and calculate the value of the test statistic (hint: write the equation and calculate the statistic.
(c) Please make the conclusion.
Solutions
Expert Solution
Hence we can conclude that the true mean of alumni salary is different from $58k
orchestra answered 2 years agoRelated Solutions
The dean of the College of Business at the University of La Verne has observed for...
The dean of the College of Business at the University of La
Verne has observed for several years and found that the probability
distribution of the salary of the alumni’s first job after
graduation is normal. The college collected information from 121
alumni and finds that the mean of their salary is $60k. Assuming a
95% confidence level, please do the following
1. Suppose the dean believes that the average salary of the
population should be about $58k per year,...
The dean of the college of business at one of the state university systems believes that...
The dean of the college of business at one of the state
university systems believes that the college rankings are
positively correlated to the private endowments ($1,000,000) and
the annual budgets ($1,000,000) from state and private sources. To
support his claim, the dean collects the following data from nine
of the state’s peer institutions and the rankings of each
school:
Private Endowment
(in millions)
Annual Budget
(in millions)
Ranking
$2.5
$8.1
87
52.0
26.0
20
12.7
7.5
122
63.0
33.0...
The dean of the a school has observed for several years and found that the probability...
The dean of the a school has observed for several years and
found that the probability distribution of the salary of the
alumni’s first job after graduation is normal. The college
collected information from 144 alumni and finds that the mean of
their salary is $58k. Assuming a 95% confidence level, please do
the following
1. Suppose the dean believes that the average salary of the
population should be about $59k per year, with a standard deviation
of $2k. We...
The Dean of the Business School at State University would like to test the hypothesis that...
The Dean of the Business School at State University would like
to test the hypothesis that no difference exists between the
average final exam grades for the Introduction to Marketing course
and the Introduction to Finance course. A random sample of eight
students who took both courses was selected and their final exam
grades for each course are attached below below. Assume Population
1 is defined as the Marketing exam scores and Population 2 is
defined as the Finance exam...
The Dean of the Business School at State University would like to test the hypothesis that...
The Dean of the Business School at State University would like
to test the hypothesis that no difference exists between the
average final exam grades for the Introduction to Marketing course
and the Introduction to Finance course. A random sample of eight
students who took both courses was selected and their final exam
grades for each course are shown below. Assume Population 1 is
defined as the Marketing exam scores and Population 2 is defined as
the Finance exam scores....
The Dean of the Business School at State University would like to test the hypothesis that...
The Dean of the Business School at State University would like
to test the hypothesis that no difference exists between the
average final exam grades for the Introduction to Marketing course
and the Introduction to Finance course. A random sample of eight
students who took both courses was selected and their final exam
grades for each course are shown below. Student 1 2 3 4 5 6 7 8
Marketing 82 86 74 93 90 76 87 100 Finance 76...
The College of Business and Public Administration at Benton University has a copy machine on each...
The College of Business and Public Administration at Benton
University has a copy machine on each floor for faculty use. Heavy
use of the five copy machines causes frequent failures. Maintenance
records show that a machine fails every 2.5 days (or l = 0.40
failure/day). The college has a maintenance contract with the
authorized dealer of the copy machines. Because the copy machines
fail so frequently, the dealer has assigned one person to the
college to repair them. The person...
In a conversation with the dean of technology for the university, you have discovered that the...
In a conversation with the dean of technology for the
university, you have discovered that the university does not have a
current disaster recovery and business continuity plan. Provide a
1-2-page document for the dean of technology that describes the
elements to be considered for business continuity and disaster
recovery. In your document, include the following: Why the business
continuity and disaster recovery plan is necessary What should be
considered and covered in a business continuity plan and disaster
recovery...
The College of Business and Public Administration at Benton University has a copy machine on each floor for faculty use.
The College of Business and Public Administration at Benton University has a copy machine on each floor for faculty use. Heavy use of the five copy machines causes frequent failures. Maintenance records show that a machine fails every 2.5 days (or A = 0.40 failure/day). The college has a maintenance contract with the authorized dealer of the copy machines. Because the copy machines fail so frequently, the dealer has assigned one person to the college to repair them. The...
The Dean of the Albers School of Business has an Advisory Board that evaluates the Dean’s...
The Dean of the Albers School of Business has an Advisory Board
that evaluates the Dean’s performance each year. What two specific
performance measures would you suggest to be used to determine the
Dean’s performance? Explain your choices.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- THIS PROGRAM HAS TO BE WRITTEN IN C Single function to perform the parity computation on...
- Consider a buffer system consisting of Benzoic acid (pKa = 4.20) and sodium benzoate, a) Would...
- Decision Variables S T Minimize 1.8S + 2.20T Subject to: Potassium 5S + 8T >= 200...
- A neurologist needs to counsel a stroke victim and her husband about possible outcomes, treatment options,...
- Case Study: Personal Beliefs in the Workplace Don Shakow was a prominent professional who worked in...
- 1: Competency framework usage is the modern best practice in management. What is meant by competency...
- A 19.34 g mixture of sugar (C12H22O11) and table salt (NaCl) is dissolved in 231 g...
ADVERTISEMENT