Suppose Michigan State University's Collegiate Employment Institute found that starting salaries for recipients of bachelor's degrees in business was $50,032 in 2017. The results for a sample of 100...

Suppose Michigan State University's Collegiate Employment Institute found that starting salaries for recipients of bachelor's degrees in business was $50,032 in 2017. The results for a sample of 100 business majors receiving a bachelor's degree in 2018 showed a mean starting salary of $51,277 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2018 is greater than the mean starting salary in 2017. Use
? = 0.01

as the level of significance.

State the null and alternative hypotheses. (Enter != for ≠ as needed.)

H₀:

H_a:

Find the value of the test statistic. (Round your answer to three decimal places.) =

Find thep-value. (Round your answer to four decimal places.)

p-value =

State your conclusion.

(A) Reject
H
₀. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.

(B) Do not reject
H
₀. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.

(C) Do not reject
H
₀. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.

(D) Reject
H
₀. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2018.

Jun 07, 2022

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Suppose Michigan State University's Collegiate Employment Institute found that starting salaries for recipients of bachelor's degrees in business was $50,032 in 2017. The results for a sample of 100...

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