Question

the average salary for new college graduates with a job is $50,556. Every chick of the University wants to claim that it's graduates earn more than that average. To test this claim, they ran and selects a hundred of their new graduates and find that their average salary is $53,200 with a standard deviation of $20,400. What conclusion should they draw?​

Answer 1

Answer:

Given:

Null hypothesis: the average salary for new college graduates with a job is $50,556.

Alternative hypothesis: the graduates from a university earn more than that average.

Using the z-test:

=> Calculate the value of test statistic:

t = (mean of sample - mean of null hypothesis)/(std/sqrt(number of sample)

 = (53200 - 50556)/(20400/sqrt(100))

 = 1.296 < 1.645

=> Do not reject the null hypothesis, their graduates do not earn more than average

Hope this helps!

:)