The average salary for American college graduates is $40,700. You suspect that the average is different for graduates from your college. The 54 randomly selected graduates from your college had an average salary of $46,049 and a standard deviation of $11,980. What can be concluded at the α = 0.05 level of significance? a. For this study, we should use Select an answer b. The null and alternative hypotheses would be: Ho: ? H₁: ? Select an answer Select an answer c. The test statistic d. The p-value = e. The p-value is ? ✓ a f. Based on this, we should g. Thus, the final conclusion is that ... (please show your answer to 4 decimal places.) (Please show your answer to 4 decimal places.) Select an answer the null hypothesis. O The data suggest that the sample mean is not significantly different from 40,700 at a = 0.05, so there is statistically insignificant evidence to conclude that the sample mean salary for graduates from your college is different from 46,049. O The data suggest that the population mean is not significantly different from 40,700 at a = 0.05, so there is statistically insignificant evidence to conclude that the population mean salary for graduates from your college is different from 40,700. O The data suggest that the populaton mean is significantly different from 40,700 at x = 0.05, so there is statistically significant evidence to conclude that the population mean salary for graduates from your college is different from 40,700.
The average salary for American college graduates is $40,700. You suspect that the average is different for graduates from your college. The 54 randomly selected graduates from your college had an average salary of $46,049 and a standard deviation of $11,980. What can be concluded at the α = 0.05 level of significance? a. For this study, we should use Select an answer b. The null and alternative hypotheses would be: Ho: ? H₁: ? Select an answer Select an answer c. The test statistic d. The p-value = e. The p-value is ? ✓ a f. Based on this, we should g. Thus, the final conclusion is that ... (please show your answer to 4 decimal places.) (Please show your answer to 4 decimal places.) Select an answer the null hypothesis. O The data suggest that the sample mean is not significantly different from 40,700 at a = 0.05, so there is statistically insignificant evidence to conclude that the sample mean salary for graduates from your college is different from 46,049. O The data suggest that the population mean is not significantly different from 40,700 at a = 0.05, so there is statistically insignificant evidence to conclude that the population mean salary for graduates from your college is different from 40,700. O The data suggest that the populaton mean is significantly different from 40,700 at x = 0.05, so there is statistically significant evidence to conclude that the population mean salary for graduates from your college is different from 40,700.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
100%
Transcribed Image Text:The average salary for American college graduates is $40,700. You suspect that the average is different for
graduates from your college. The 54 randomly selected graduates from your college had an average salary
of $46,049 and a standard deviation of $11,980. What can be concluded at the α = 0.05 level of
significance?
a. For this study, we should use Select an answer
b. The null and alternative hypotheses would be:
Ho: ? Select an answer
H₁: ?✓ Select an answer ✓
c. The test statistic ? ✓ =
d. The p-value =
e. The p-value is ? ✓ a
f. Based on this, we should [Select an answer the null hypothesis.
g. Thus, the final conclusion is that ...
(please show your answer to 4 decimal places.)
(Please show your answer to 4 decimal places.)
O The data suggest that the sample mean is not significantly different from 40,700 at a = 0.05,
so there is statistically insignificant evidence to conclude that the sample mean salary for
graduates from your college is different from 46,049.
O The data suggest that the population mean is not significantly different from 40,700 at a =
0.05, so there is statistically insignificant evidence to conclude that the population mean
salary for graduates from your college is different from 40,700.
The data suggest that the populaton mean is significantly different from 40,700 at a = 0.05,
so there is statistically significant evidence to conclude that the population mean salary for
graduates from your college is different from 40,700.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps with 1 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman