The average salary for American college graduates is $47,100. You suspect that the average is more for graduates from your college. The 47 randomly selected graduates from your college had an average salary of $48,441 and a standard deviation of $9,610. 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:  ? p μ  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 accept fail to reject reject  the null hypothesis.

Thus, the final conclusion is that ...

The data suggest that the sample mean is not significantly greater than 47,100 at αα = 0.01, so there is statistically insignificant evidence to conclude that the sample mean salary for graduates from your college is greater than 48,441.

The data suggest that the populaton mean is significantly greater than 47,100 at αα = 0.01, so there is statistically significant evidence to conclude that the population mean salary for graduates from your college is greater than 47,100.

The data suggest that the population mean is not significantly greater than 47,100 at αα = 0.01, so there is statistically insignificant evidence to conclude that the population mean salary for graduates from your college is greater than 47,100.

Interpret the p-value in the context of the study.

If the population mean salary for graduates from your college is $47,100 and if another 47 graduates from your college are surveyed then there would be a 17.19608561% chance that the population mean salary for graduates from your college would be greater than $47,100.

There is a 17.19608561% chance that the population mean salary for graduates from your college is greater than $47,100 .

There is a 17.19608561% chance of a Type I error.

If the population mean salary for graduates from your college is $47,100 and if another 47 graduates from your college are surveyed then there would be a 17.19608561% chance that the sample mean for these 47 graduates from your college surveyed would be greater than $48,441.

Interpret the level of significance in the context of the study.

If the population mean salary for graduates from your college is $47,100 and if another 47 graduates from your college are surveyed then there would be a 1% chance that we would end up falsely concluding that the population mean salary for graduates from your college is greater than $47,100.

If the population population mean salary for graduates from your college is greater than $47,100 and if another 47 graduates from your college are surveyed then there would be a 1% chance that we would end up falsely concluding that the population mean salary for graduates from your college is equal to $47,100.

There is a 1% chance that your won't graduate, so what's the point?

There is a 1% chance that the population mean salary for graduates from your college is greater than $47,100.

Name: The average salary for American college graduates is $47,100. You susp
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: The average salary for American college graduates is $47,100. You suspect that the average is more for graduates from your college. The 47 randomly selected graduates from your college had an average salary of $48,441 and a standard deviation of $9,6

Question

The average salary for American college graduates is $47,100. You suspect that the average is more for graduates from your college. The 47 randomly selected graduates from your college had an average salary of $48,441 and a standard deviation of $9,610. 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: ? p μ 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 accept fail to reject reject the null hypothesis.
Thus, the final conclusion is that ...
- The data suggest that the sample mean is not significantly greater than 47,100 at αα = 0.01, so there is statistically insignificant evidence to conclude that the sample mean salary for graduates from your college is greater than 48,441.
- The data suggest that the populaton mean is significantly greater than 47,100 at αα = 0.01, so there is statistically significant evidence to conclude that the population mean salary for graduates from your college is greater than 47,100.
- The data suggest that the population mean is not significantly greater than 47,100 at αα = 0.01, so there is statistically insignificant evidence to conclude that the population mean salary for graduates from your college is greater than 47,100.
Interpret the p-value in the context of the study.
- If the population mean salary for graduates from your college is $47,100 and if another 47 graduates from your college are surveyed then there would be a 17.19608561% chance that the population mean salary for graduates from your college would be greater than $47,100.
- There is a 17.19608561% chance that the population mean salary for graduates from your college is greater than $47,100 .
- There is a 17.19608561% chance of a Type I error.
- If the population mean salary for graduates from your college is $47,100 and if another 47 graduates from your college are surveyed then there would be a 17.19608561% chance that the sample mean for these 47 graduates from your college surveyed would be greater than $48,441.
Interpret the level of significance in the context of the study.
- If the population mean salary for graduates from your college is $47,100 and if another 47 graduates from your college are surveyed then there would be a 1% chance that we would end up falsely concluding that the population mean salary for graduates from your college is greater than $47,100.
- If the population population mean salary for graduates from your college is greater than $47,100 and if another 47 graduates from your college are surveyed then there would be a 1% chance that we would end up falsely concluding that the population mean salary for graduates from your college is equal to $47,100.
- There is a 1% chance that your won't graduate, so what's the point?
- There is a 1% chance that the population mean salary for graduates from your college is greater than $47,100.

Accepted Answer

Answered: Image /qna-images/answer/af47ab7d-7b00-4400-a875-79921c2d4706.jpg