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The dean of the a school has observed for several years and found that the probability...

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Statistics

The dean of the a school has observed for several years andfound that the probability distribution of the salary of thealumni’s first job after graduation is normal. The collegecollected information from 144 alumni and finds that the mean oftheir salary is $58k. Assuming a 95% confidence level, please dothe following

1. Suppose the dean believes that the average salary of thepopulation should be about $59k per year, with a standard deviationof $2k. We need to conclude that the mean salary is less than whatthe dean has believed to be:

(a) What are the null and alternate hypotheses ?

(b) What is the level of significance ?

(c) What is the standard error?

(d) Decide on the test statistic and calculate the value of thetest statistic (hint: write the equation and calculate thestatistic?

(e) What’s your decision regarding the hypothesis and interpretthe result using test-score rejection region rule or p valuerule.

Answer & Explanation Solved by verified expert
3.9 Ratings (644 Votes)
Solution Givenn 144 sample size of aluminiSample meanPopulation meanPopulation standard    See Answer
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