The average salary for American college graduates is $48,600. You suspect that the average is less for graduates from your college. The 49 randomly selected graduates from your college had an average salary of $46,486 and a standard deviation of $9,200. What can be concluded at the  αα = 0.01 level of significance? For this study, we should use Select an answer t-test for a population mean z-test for a population proportion  The null and alternative hypotheses would be:       H0:H0:  ? p μ  Select an answer = ≠ > <         H1:H1:  ? μ p  Select an answer > ≠ = <     The test statistic ? z t  =  (please show your answer to 3 decimal places.) The p-value =  (Please show your answer to 4 decimal places.) The p-value is ? > ≤  αα Based on this, we should Select an answer reject accept fail to reject  the null hypothesis. Thus, the final conclusion is that .

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The average salary for American college graduates is $48,600. You suspect that the average is less for graduates from your college. The 49 randomly selected graduates from your college had an average salary of $46,486 and a standard deviation of $9,200. What can be concluded at the  αα = 0.01 level of significance?

  1. For this study, we should use Select an answer t-test for a population mean z-test for a population proportion 
  2. The null and alternative hypotheses would be:     

 H0:H0:  ? p μ  Select an answer = ≠ > <       

 H1:H1:  ? μ p  Select an answer > ≠ = <    

  1. The test statistic ? z t  =  (please show your answer to 3 decimal places.)
  2. The p-value =  (Please show your answer to 4 decimal places.)
  3. The p-value is ? > ≤  αα
  4. Based on this, we should Select an answer reject accept fail to reject  the null hypothesis.
  5. Thus, the final conclusion is that .
Expert Solution
Step 1

The provided information are:

Statistics homework question answer, step 1, image 1

Step 2

The appropriate null and alternative hypotheses are:

Statistics homework question answer, step 2, image 1

The alternative hypothesis suggests that the test is left-tailed

(1)

Here, the population standard deviation is unknown, so the appropriate test is t-test.

The test statistic can be calculated as:

Statistics homework question answer, step 2, image 2

Step 3

The sample size (n) is 49.

Degrees of freedom (df) = n-1 = 49-1=48

(2)

The P-value can be calculated as:

Statistics homework question answer, step 3, image 1

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