A report from 6 years ago indicated that the average gross salary for business analyst was...

A report from 6 years ago indicated that the average gross salary for business analyst was $69,873. Since this survey is now outdated, the Bureau of Labor Statistics wishes to test this figure against current salaries to see if the current salaries are statistically different from the old ones. If we’ve obtained information with an average of $79,180 and standard deviation of $14,985 for 12 people, did the salary have a change? (Note: alpha = 0.05)

a) What is the null and alternative hypothesis?

b) What is the conclusion? Do we reject or accept the null hypothesis?

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Expert Solution

orchestra answered 1 year ago

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