A report states that the mean yearly salary offer for students graduating with a
ID: 3232707 • Letter: A
Question
A report states that the mean yearly salary offer for students graduating with a degree in accounting is $48,719. Suppose that a random sample of 50 accounting graduates at a large university who received job offers resulted in a mean offer of $49,830 and a standard deviation of $3500. Do the sample data provide strong support for the claim that the mean salary offer for accounting graduates of this university is higher than the national average of $48,719? Test the relevant hypotheses using
= 0.05.
(Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)
State your conclusion.
Reject H0. We do not have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,719.Do not reject H0. We have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,719. Do not reject H0. We do not have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,719.Reject H0. We have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,719.
t = P-value = k -XX"x-)x-**)#7 EI *Explanation / Answer
The statistical software output for this problem is:
One sample T hypothesis test:
: Mean of population
H0 : = 48719
HA : > 48719
Hypothesis test results:
Hence,
t = 2.24
P - value = 0.015
Conclusion:
Reject H0. We have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,719.
Option D is correct.
Mean Sample Mean Std. Err. DF T-Stat P-value 49830 494.97475 49 2.244559 0.0147Related Questions
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