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In: Statistics and Probability

UCF is a major Metropolitan University located in Orlando Florida. UCF is advertising their bachelor in...

UCF is a major Metropolitan University located in Orlando Florida. UCF is advertising their bachelor in Economics with the statistic that the starting salary of a graduate with a bachelor in economics is $ 48,500 according to Payscale.com (2013-13).
The Director of Institutional Research at UCF is interested in testing this information. She decides to conduct a survey of 30 randomly selected recent graduate economic students.
The sample mean is $43,350 and the sample standard deviation is 15,000.  Alpha =0.05

Using the given Null Hypothesis and level of significance

Solutions

Expert Solution

The hypothesis test we are looking towards is if the sample has greater average rent than rent price in Florida.

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orchestra answered 1 year ago
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