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 ago
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