MATHEMATICS COLLEGE

The dean of a business school claims that the average starting salary of its graduates is more than 85 (in $000’s). It is known that the population standard deviation is 10 (in $000’s). Sample data on the starting salaries of 64 randomly selected recent graduates yielded a mean of 88(in $000s). What is the critical value for the rejection region if the level of significance is 5%?

Answers

Answer 1
Answer:

Answer:

Critical value for the rejection region if the level of significance is 5% = 1.645

We conclude that the average starting salary of graduates is more than 85,000$.

Step-by-step explanation:

We are given the following in the question:

Population mean, μ = 85,000$

Sample mean, = 88,000$

Sample size, n = 64

Alpha, α = 0.05

Population standard deviation, σ = 10,000

First, we design the null and the alternate hypothesis

85,000\text{ dollars}" alt="H_{0}: \mu = 85,000\text{ dollars}\\H_A: \mu > 85,000\text{ dollars}" align="absmiddle" class="latex-formula">

We use One-tailed(right) z test to perform this hypothesis.

Formula:

Putting all the values, we have

Now,

Since,  

z_{critical}" alt="z_{stat} > z_{critical}" align="absmiddle" class="latex-formula">

We reject the null hypothesis and accept the alternate hypothesis.

Thus, we conclude that the average starting salary of graduates is more than 85,000$.


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Answers

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_____

You can also compare the difference in wages of 1.50/h × 19 h = $28.50 to the difference in tips of 11% × $2000 = $220. Carl's additional tips more than made up for his lower wages.

Answer:

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Step-by-step explanation:

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