Question

The average starting salary of students who graduated from colleges of Business in 2009 was $48,400. A sample of 100 graduates of 2010 showed an average starting salary of $50,000. Assume the standard deviation of the population is known to be $8000. We want to determine whether or not there has been a significant increase in the starting salaries.

Step 1. Statement of the hypothesis (1.5 marks)

Step 2. Standardised test statistic formula (1 mark)

Step 3. State the level of significance (1 mark)

Step 4. Decision Rule (Draw a bell to show rejection zone)

Step 5. Calculation of the statistic

Step 6. Conclusion (1.5 marks)

Answer #1

*given data
are:-*

**hypothesis**:-

[ claim ]

**Standardised
test statistic formula:-**

**the level of
significance = 0.05**

**Decision Rule
:-**

**reject the null hypothesis , if ,
**

[ z critical value for alpha=0.05, right tailoed test =1.645 ]

*the diagram
be:-*

**Calculation of
the statistic :-**

**Conclusion
:-**

**we reject
the null hypothesis. We conclude that there is enough evidence that there
has been a significant increase in the starting
salaries.**

*** if you have any doubts about the problem please mention it in the comment box... if satisfied please LIKE.

HI6007 Statistics for Business Decisions
Tutorial 7 – Week 8
Question 1:
The average starting salary of students who graduated from
colleges of Business in 2009 was $48,400. A sample of 100 graduates
of 2010 showed an average starting salary of $50,000. Assume the
standard deviation of the population is known to be $8000. We want
to determine whether or not there has been a significant increase
in the starting salaries.
Step 1. Statement of the
hypothesis
Step 2....

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