1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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>

You might be interested in
BRAINLIEST ANSWER UP FOR GRABS!!
Svetach [21]
X = sqrt(5^2 - 3^2) = 4
y = sqrt(7^2 - 3^2) = sqrt 40

Horizontal distance = x + y + 3 = 7 + sqrt40
8 0
3 years ago
Read 2 more answers
Can u pls help me with this question ​
Shalnov [3]

Answer:

A, C, D

Step-by-step explanation:

7 0
2 years ago
Read 2 more answers
A movies rental company deducts $7 from Serena’s account every month for a year. After 1 year , how much do movie rental fees ch
oksano4ka [1.4K]

Answer:

She's been charged 84 dollars

Step-by-step explanation:

Let's call each month m

if every month it deducts 7 dollars, then to find how much has been charged after a year, we do

-7 * 12 = -84

5 0
3 years ago
A. Two numbers are in the ratio 5:7. When 3 is added to each number, the new ratio becomes 3 : 4. Find the numbers. ​
Usimov [2.4K]

Answer:

answer is 3 and ratio of two different numbers

5 0
3 years ago
What are the numbers from least to greatest based on the -7 ,4, -2, 3
Anastaziya [24]

Answer:

<em>It would be -7,-2,3,4.</em>

8 0
3 years ago
Read 2 more answers
Other questions:
  • A standard number cube is rolled 288 times. Predict how many times a 3 or a 5 will be the result.
    5·1 answer
  • Find the point P that is 2/5 of the way from A to B on the directed line segment AB
    9·1 answer
  • Shane and his family go to the movie theatre and buys 6 tickets for $12 each. then they spend a total of $31 for popcorn and dri
    8·1 answer
  • Please help
    8·1 answer
  • If a line crosses the y-axis at (0, 1) and has a slope of 45, what is the equation of the line?
    10·2 answers
  • Carlos is shopping for school supplies. He bought a pencil box for $3, and he also needs to buy notebooks. Each notebook is $2.
    14·1 answer
  • Vocabulary Review
    6·1 answer
  • Find all real solutions to w^2-10w+1 <br> In simplest form
    7·1 answer
  • How can you use the prime factorization of the powers of 10 to find the prime factorization of 270,000
    8·1 answer
  • 6. y = -2x + 4<br> y= 3x + 9
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!