Answer:
Option C - Reject H0. We have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,722.
Step-by-step explanation:
First of all let's define the hypothesis;
Null hypothesis;H0; μ = $48,722
Alternative hypothesis;Ha; μ > $48,722
Now, let's find the test statistic for the z-score. Formula is;
z = (x' - μ)/(σ/√n)
We are given;
x' = 48,722
μ = 49,870
σ = 3900
n = 50
Thus;
z = (49870- 48722)/(3900/√50)
z = 2.08
So from online p-value calculator as attached, using z = 2.08 and α = 0.05 ,we have p = 0.037526
This p-value of 0.037526 is less than the significance value of 0.05,thus, we reject the claim that that the mean salary offer for accounting graduates of this university is higher than the national average of $48,722
