What is the Test Statistic and the P-Value??? It\'s tough to find out how much p

Question

What is the Test Statistic and the P-Value???

It's tough to find out how much people earn, b n 2011, a magazine reported that the average lawyer's salary in a country was $62,000. Suppose that today you interview a random sample of 45 lawyers in the country and find that the average salary is $73,033, with a standard deviation of $84,217. Do you think the average lawyer's salary today is higher than that reported by the magazine in 2011? For this problem, assume = 0.05. Let be the population mean lawyers salary in the country. Determine the null and alternative hypotheses. 0: = 62,000 A: > 62,000 The test statistic is Round to two decimal places as needed.)

Explanation / Answer

The statistical software output for this problem is:

One sample T summary hypothesis test:
: Mean of population
H0 : = 62000
HA : > 62000

Hypothesis test results:

Hence,

Test statistic = 0.88

P - value = 0.192

Mean Sample Mean Std. Err. DF T-Stat P-value 73033 12554.329 44 0.87882036 0.1921

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