Question

Suppose Michigan State University's Collegiate Employment Institute found that starting salaries for recipients of bachelor's degrees in business was $50,032 in 2017. The results for a sample of 100 business majors receiving a bachelor's degree in 2018 showed a mean starting salary of $51,288 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2018 is greater than the mean starting salary in 2017. Use

*α* = 0.01

as the level of significance.

State the null and alternative hypotheses. (Enter != for ≠ as needed.)

*H*_{0}:

*H*_{a}:

Find the value of the test statistic. (Round your answer to three decimal places.)

Find the *p*-value. (Round your answer to four decimal
places.)

*p*-value =

State your conclusion.

Do not reject *H*_{0}. There is insufficient
evidence to conclude that the mean starting salary for business
majors has increased in 2018.

Do not reject *H*_{0}. There is sufficient
evidence to conclude that the mean starting salary for business
majors has increased in 2018.

Reject *H*_{0}. There is sufficient evidence to
conclude that the mean starting salary for business majors has
increased in 2018.

Reject *H*_{0}. There is insufficient evidence to
conclude that the mean starting salary for business majors has
increased in 2018.

Answer #1

Suppose a certain state university's college of business
obtained the following results on the salaries of a recent
graduating class:
Finance Majors
Business Analytics Majors
n1 = 120
n2 = 30
x1 = $48,237
x2 = $55,417
s1 = $19,000
s2 = $10,000
(a) Formulate hypotheses so that, if the null hypothesis is
rejected, we can conclude that salaries for Finance majors are
significantly lower than the salaries of Business Analytics majors.
Use α = 0.05. (Let μ1 = the...

The Wall Street Journal reported that recipients of a bachelor
degree with major in business receive average starting salaries of
$55,000 in 2017, with a standard deviation of $8,000. A sample of
100 salaries from business majors collected in 2018 shows a mean
starting salary of $ $54,000. You are hired as a statistician to
investigate whether there are salary differences for business
majors in 2018 with respect to 2017. Allow for 1% error on a two
tail test.
The...

Samples of starting annual salaries for individuals entering the
public accounting and financial planning professions follow. Annual
salaries are shown in thousands of dollars.
Public
Accountant
Financial
Planner
50.2
49.0
59.8
50.2
57.3
54.1
57.2
56.9
53.2
50.9
55.0
52.6
51.9
50.7
59.5
54.9
58.0
52.8
52.9
49.9
(a)
Use a 0.05 level of significance and test the hypothesis that
there is no difference between the starting annual salaries of
public accountants and financial planners.
State the null and alternative...

Samples of starting annual salaries for individuals entering the
public accounting and financial planning professions follow. Annual
salaries are shown in thousands of dollars.
Public
Accountant
Financial
Planner
50.2
49.0
59.8
50.2
57.3
54.1
57.2
56.9
53.2
50.9
55.0
52.6
51.9
50.7
59.5
54.9
58.0
52.8
52.9
49.9
(a)
Use a 0.05 level of significance and test the hypothesis that
there is no difference between the starting annual salaries of
public accountants and financial planners.
State the null and alternative...

A large university is well known for both its architecture
school and its mechanical engineering program. The dean of the
career services office is trying to find whether there is a
difference in starting job salary between recently graduated
architecture majors and mechanical engineering majors. The starting
annual salaries for a random sample of 10 architecture majors and
10 mechanical engineering majors from the most recent graduating
class are recorded. Assume that the population variances of the
architecture majors' starting...

The Congressional Budget Office reports that 36% of federal
civilian employees have a bachelor's degree or higher (The Wall
Street Journal). A random sample of 123 employees in the
private sector showed that 32have a bachelor's degree or higher.
Does this indicate that the percentage of employees holding
bachelor's degrees or higher in the private sector is less than in
the federal civilian sector? Use α = 0.05.
a. What are we testing in this problem?
single mean
single proportion ...

The Congressional Budget Office reports that 36% of federal
civilian employees have a bachelor's degree or higher (The Wall
Street Journal). A random sample of 115 employees in the private
sector showed that 32 have a bachelor's degree or higher. Does this
indicate that the percentage of employees holding bachelor's
degrees or higher in the private sector is less than in the federal
civilian sector? Use α = 0.05.
a.) What are we testing in this problem?
-single proportion
-single...

The Congressional Budget Office reports that 36% of federal
civilian employees have a bachelor's degree or higher (The Wall
Street Journal). A random sample of 117 employees in the
private sector showed that 30 have a bachelor's degree or higher.
Does this indicate that the percentage of employees holding
bachelor's degrees or higher in the private sector is less than in
the federal civilian sector? Use α = 0.05.
What are we testing in this problem?
single meansingle proportion
What...

You may need to use the appropriate appendix table or technology
to answer this question.
The gap between the earnings of men and women with equal
education is narrowing but has not closed. Sample data for seven
men and seven women with bachelor's degrees are as follows. Data
are shown in thousands of dollars.
Men
Women
32.6
41.5
80.5
40.4
50.2
35.9
66.2
42.5
44.2
30.8
59.9
55.5
60.3
21.8
(a)
What is the median salary (in $) for men?...

You may need to use the appropriate appendix table or technology
to answer this question.
The gap between the earnings of men and women with equal
education is narrowing but has not closed. Sample data for seven
men and seven women with bachelor's degrees are as follows. Data
are shown in thousands of dollars.
Men
Women
39.6
46.5
82.5
42.4
52.2
38.9
60.2
49.5
47.2
32.8
53.9
58.5
62.3
26.8
(a)
What is the median salary (in $) for men?...

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