6.61 Average starting salary. Refer to Exercise 6.22 (page 358). Use the information presented in the exercise to test that the average income of graduates from your institution is different from the...

6.61

Average starting salary. Refer to Exercise 6.22 (page 358). Use the information presented in the exercise to test that the average income of graduates from your institution is different from the national average (α = 0.01). Write a short paragraph summarizing your conclusions.

 Here is Exercise 6.22 Average starting salary.

The National Association of Colleges and Employers (NACE) Spring Salary Survey shows that the current class of college graduates received anaverage starting-salary offer of $48,127.9 Your institution collected an SRS (n = 300) of its recent
graduates and obtained a 95% confidence interval of ($46,382, $48,008). What can we conclude about the difference between the average starting salary of recent graduates at your institution and theoverall NACE average? Write a short summary.