Given that the average yearly income of dentists in the year 2012 was $110,000. A sample...

Given that the average yearly income of dentists in the year 2012 was $110,000. A sample of 81 dentists, which was taken in 2013, showed an average yearly income of $120,000. Assume the standard deviation of the population of dentists’s incomes in 2012 is $36,000. Using a 5% level of significance, we want to test and determine if there has been a significant increase in the average yearly income of dentists. Compute the test statistic and the p-value.

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orchestra answered 1 year ago

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