Answer:
Option B) Fail to reject the null hypothesis that the true population mean annual salary of full-time college professors in the region is equal to $127,000.
Step-by-step explanation:
We are given the following in the question:
Population mean, μ = $127,000
Sample mean, = $126,092
Sample size, n = 160
Alpha, α = 0.10
Sample standard deviation, σ = $8,509
First, we design the null and the alternate hypothesis
We use Two-tailed t test to perform this hypothesis.
Formula:
Now,
Since,
The calculated t-statistic lies in the acceptance region, we fail to reject and accept the null hypothesis.
Option B) Fail to reject the null hypothesis that the true population mean annual salary of full-time college professors in the region is equal to $127,000.