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enot [183]
3 years ago
15

1. The Wall Street Journal reported that bachelor’s degree recipients with majors in business average starting salaries of $53,9

00 in 2012 (The Wall Street Journal, March 17, 2014). The results for a sample of 100 business majors receiving a bachelor’s degree in 2013 showed a mean starting salary of $55,144 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012. Use a = .01 as the level of significance
Mathematics
2 answers:
MrMuchimi3 years ago
7 0

Answer:

We conclude that the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012.

Step-by-step explanation:

We are given that the Wall Street Journal reported that bachelor’s degree recipients with majors in business average starting salaries of $53,900 in 2012.

A sample of 100 business majors receiving a bachelor’s degree in 2013 showed a mean starting salary of $55,144 with a sample standard deviation of $5,200.

Let \mu = <u><em>mean starting salary for business majors in 2013</em></u>.

So, Null Hypothesis, H_0 : \mu \leq $53,900     {means that the mean starting salary for business majors in 2013 is smaller than or equal to the mean starting salary in 2012}

Alternate Hypothesis, H_A : \mu > $53,900     {means that the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012}

The test statistics that would be used here <u>One-sample t-test statistics</u> because we don't know about population standard deviation;

                               T.S. =  \frac{\bar X-\mu}{\frac{s}{\sqrt{n} } }  ~ t_n_-_1

where, \bar X = sample mean starting salary = $55,144

            s = sample standard deviation = $5,200

            n = sample of business majors = 100

So, <u><em>the test statistics</em></u>  =  \frac{55,144-53,900}{\frac{5,200}{\sqrt{100} } }  ~ t_9_9

                                     =  2.392

The value of t-test statistic is 2.392.

Now, at 0.01 significance level the t table gives a critical value of 2.369 at 99 degree of freedom for right-tailed test.

Since our test statistic is more than the critical value of t as 2.392 > 2.369, so we have sufficient evidence to reject our null hypothesis as it will fall in the rejection region due to which <u><em>we reject our null hypothesis</em></u>.

Therefore, we conclude that the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012.

sweet-ann [11.9K]3 years ago
4 0

Answer:

<em>The calculated value t = 4.976 > 2.6264 at 0.01 level of significance</em>

<em>Null hypothesis is rejected </em>

<em>Alternative hypothesis is accepted</em>

The  mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012

<u>Step-by-step explanation:</u>

Given Mean of the population μ = $53,900

Given sample size 'n' = 100

Mean of the sample size x⁻ = 55,144

Sample standard deviation 'S' = 5200

<u><em>Null hypothesis:H₀</em></u>: There is no difference between the means

<em>Alternative Hypothesis :H₁</em>: The  mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012

<em>Test statistic </em>

t = \frac{x^{-} -mean}{\frac{S}{\sqrt{n} } }

t = \frac{55144-53900}{\frac{5200}{\sqrt{100} } }<em></em>

<em>t = 4.976</em>

<em>Degrees of freedom </em>

<em>ν = n-1 = 100-1 =99</em>

t₀.₀₁ = 2.6264

<em>The calculated value t = 4.976 > 2.6264 at 0.01 level of significance</em>

<em>Null hypothesis is rejected </em>

<em>Alternative hypothesis is accepted</em>

<u><em>Final answer</em></u>:-

<em>The  mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012</em>

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