UCF is a major Metropolitan University located in Orlando Florida. UCF is advertising their bachelor in Economics with the stati
stic that the starting salary of a graduate with a bachelor in economics is $ 48,500 according to Payscale (2013-13). The Director of Institutional Research at UCF is interested in testing this information. She decides to conduct a survey of 50 randomly selected recent graduate economic students. The sample mean is $43,350 and the sample standard deviation is 15,000. Alpha = 0.01
Claim: UCF is advertising their bachelor in Economics with the statistic that the starting salary of a graduate with a bachelor in economics is $ 48,500 according to Payscale (2013-13).