Question

Conestoga college recently released a flyer in an attempt to recruit accounting students for their business school. In the flyer, Conestoga college claims that the mean first year graduate salary of their accounting students is $50,000, whereas their biggest competition for accounting students, Fanshawe College, have a first year graduate salary of only $45,000.

After reading Conestoga's recruiting flyer, Fanshawe College executives believe that Conestoga falsely stated the graduate salaries and as a result have conducted their own study. Based on the sample below, at 1% level of significance is there evidence that Conestoga's first year accounting graduates salaries are not as claimed?

Conestoga College First Year Accounting Graduate Salaries
$38,750	$50,000	$50,000	$45,250	$45,250	$50,500	$36,500	$41,000	$41,750	$55,750
$59,500	$46,000	$37,500	$50,000	$49,250	$59,750	$37,500	$43,500	$44,250	$59,250
$58,250	$39,250	$60,750	$42,750	$43,000	$49,500	$37,500	$41,250	$61,000	$38,250
$38,000	$44,500	$42,500	$58,500	$45,000	$37,000	$56,500	$59,750	$48,000	$47,500
$46,250	$62,750	$56,000	$38,750	$45,250	$46,750	$57,250	$55,000	$50,250	$61,000
$40,000	$43,750	$50,250	$40,000	$37,750	$44,000	$45,500	$53,000	$56,000	$60,750
$37,000	$58,250	$35,750	$44,750	$53,250	$50,250	$45,000	$45,250	$40,750	$52,000
$60,250	$47,250	$43,750	$47,750	$58,750	$38,750	$62,750	$52,000	$57,750	$48,750
$36,750	$53,500	$50,500	$53,000	$40,750	$47,000	$57,000	$46,250	$57,250	$38,500
$48,500	$41,000	$55,750	$36,250	$62,500	$50,500	$46,750	$38,000	$61,000	$40,000
$62,500	$42,750	$43,750	$62,000	$45,000	$51,750	$50,750	$35,750	$40,750	$51,500
$53,250	$49,250	$51,750	$48,500	$38,250	$46,750	$40,250	$52,250	$54,500	$51,500
$51,000	$41,000	$49,250	$39,750	$54,500	$41,000	$49,750	$50,250	$49,250	$49,000
$62,000	$43,500	$53,000	$44,500	$48,250	$62,000	$37,750	$38,750	$61,000	$60,750
$48,500	$49,500	$62,500	$44,500	$58,500	$53,500	$52,000	$37,750	$50,750	$60,250
$37,250	$40,250	$58,500	$43,750	$49,500	$46,750	$62,750	$62,750	$51,750	$42,250
$45,750	$56,750	$48,250	$54,000	$53,750	$58,000	$36,000	$50,250	$46,250	$40,250
$37,500	$46,250	$62,750	$56,000	$39,500	$39,750	$48,750	$62,250	$38,000	$36,500
$38,750	$49,750	$42,500	$52,750	$56,000	$61,500	$49,000	$47,750	$39,250	$58,250
$52,000	$37,000	$36,750	$41,750	$53,500	$37,500	$59,750	$57,500	$39,000	$37,250
$62,750	$39,750	$61,750	$45,500	$39,000	$61,000	$40,750	$40,000	$62,250	$48,250
$43,250	$36,250	$58,250	$62,000	$58,250	$55,000	$63,000	$50,000	$52,750	$53,500

BLANK #1: Is this a question involving mean or proportion? ***ANSWER "MEAN" OR "PROPORTION" (WITHOUT THE QUOTATION MARKS)***

BLANK #2: Which type of distribution should be used to calculate the probability for this question? ***ANSWER "NORMAL", "T", OR "BINOMIAL" (WITHOUT THE QUOTATION MARKS)***

BLANK #3: Which of the following options are the appropriate hypotheses for this question: ***ANSWER WITH THE CORRECT LETTER, WITHOUT ANY QUOTATION MARKS OR BRACKETS***

A) H₀: μ = $50,000 H₁: μ > $50,000

B) H₀: μ = $50,000 H₁: μ < $50,000

C) H₀: μ = $50,000 H₁: μ ≠ $50,000

D) H₀: p = $50,000 H₁: p > $50,000

E) H₀: p = $50,000 H₁: p < $50,000

F) H₀: p = $50,000 H₁: p ≠ $50,000

BLANK #4: What is the p-value of this sample? ***ANSWER TO 4 DECIMALS, BE SURE TO INCLUDE LEADING ZERO, EXAMPLE "0.1234"...NOT ".1234"***

BLANK#5: Based on this sample, at 1% level of significance is there evidence that Conestoga's first year accounting graduates salaries not as claimed? ***ANSWER "YES" OR "NO" (WITHOUT THE QUOTATION MARKS)***

Answer 1

ANSWER::

BLANK #1:

Ans:: MEAN

BLANK #2:

Ans:  T

BLANK #3:

Ans: C ( H0: μ = $50,000 H1: μ ≠ $50,000)

BLANK #4:

Ans: 0.0265

BLANK#5:

Ans: NO

50,000.000	hypothesized value
48,775.000	mean Data
8,132.497	std. dev.
548.293	std. error
220	n
219	df
-2.234	t
.0265	p-value (two-tailed)

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