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In: Statistics and Probability

The mean income per year of employees who produce internal and external newsletters and magazines for...

The mean income per year of employees who produce internal and external newsletters and magazines for corporations was reported to be $75500. These editors and designers work on corporate publications but not on marketing materials. As a result of poor economic conditions and oversupply, these corporate communications workers may be experiencing a decrease in salary. A random sample of 40 corporate communications workers revealed that x̄ = $72500. Conduct a hypothesis test to determine whether there is any evidence to suggest that the mean income per year of corporate communications workers has decreased. Assume that the population standard deviation is $6360. Please use the exact value (from R) for all critical values.

a)Calculate the appropriate 99% bound(z distribution). You do not need to have any decimal places in the answer; that is, the answer should be an integer

b) why hypothesis test at a 1% significance level and the a) result state the same thing?

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