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​It's tough to find out how much people​ earn, but in​ 2011, a magazine reported that...

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Basic Math

​It's tough to find out how much people​ earn, but in​ 2011, amagazine reported that the average​ lawyer's salary in a countrywas $64,000. Suppose that today you interview a random sample of 55lawyers in the country and find that the average salary is$75,275​, with a standard deviation of $82,694.Do you think theaverage​ lawyer's salary today is higher than that reported by themagazine in​ 2011? For this​ problem, assume alphaαequals=0.05.

Let muμ be the population mean​ lawyer's salary in thecountry.

Determine the null and alternative hypotheses.

H0 : u = 64,000

HA : u > 64,000

Test statistic is 1.01

What is the P-Value?

Answer & Explanation Solved by verified expert
4.2 Ratings (768 Votes)
Solution 64000 75275 82694n 55This is the right tailed test The null and    See Answer
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