The average salary for American college graduates is $49,500. You suspect that the average is different for graduates from your college. The 64 randomly selected graduates from your college had an average salary of $45,634 and a standard deviation of $9,760. What can be concluded at the αα = 0.01 level of significance? For this study, we should use? z-test for a population mean or t-test for a population mean The null and alternative hypotheses would be: H0:H0: ? p or μ Select an answer > ≥ < ≤ ≠ = H1:H1: ? μ or p Select an answer ≠ > ≥ = ≤ < 3. The test statistic ? t or z = ______ (please show your answer to 3 decimal places.) 4. The p-value = ________ (Please show your answer to 4 decimal places.) 5. The p-value is ? > or ≤ 6. Based on this, we should: Select an answer, fail to reject? reject? or accept? the null hypothesis. 7. Thus, the final conclusion is that ... a. The data suggest that the populaton mean is significantly different from 49,500 at αα = 0.01, so there is enough evidence to conclude that the population mean salary for graduates from your college is different from 49,500. b. The data suggest that the sample mean is not significantly different from 49,500 at αα = 0.01, so there is not enough evidence to conclude that the sample mean salary for graduates from your college is different from 45,634. c. The data suggest that the population mean is not significantly different from 49,500 at αα = 0.01, so there is not enough evidence to conclude that the population mean salary for graduates from your college is different from 49,500. 8. Interpret the p-value in the context of the study. If the population mean salary for graduates from your college is $49,500 and if another 64 graduates from your college are surveyed then there would be a 0.23618704% chance that the population mean would either be less than $45,634 or greater than $53,366. If the population mean salary for graduates from your college is $49,500 and if another 64 graduates from your college are surveyed then there would be a 0.23618704% chance that the sample mean for these 64 graduates from your college would either be less than $45,634 or greater than $53,366. There is a 0.23618704% chance of a Type I error. There is a 0.23618704% chance that the population mean salary for graduates from your college is not equal to $49,500 9. Interpret the level of significance in the context of the study. If the population mean salary for graduates from your college is $49,500 and if another 64 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 different from $49,500. There is a 1% chance that your won't graduate, so what's the point? If the population population mean salary for graduates from your college is different from $49,500 and if another 64 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 $49,500. There is a 1% chance that the population mean salary for graduates from your college is different from $49,500.

The average salary for American college graduates is $49,500. You suspect that the average is different for graduates from your college. The 64 randomly selected graduates from your college had an average salary of $45,634 and a standard deviation of $9,760. What can be concluded at the αα = 0.01 level of significance? For this study, we should use? z-test for a population mean or t-test for a population mean The null and alternative hypotheses would be: H0:H0: ? p or μ Select an answer > ≥ < ≤ ≠ = H1:H1: ? μ or p Select an answer ≠ > ≥ = ≤ < 3. The test statistic ? t or z = (please show your answer to 3 decimal places.) 4. The p-value = __ (Please show your answer to 4 decimal places.) 5. The p-value is ? > or ≤ 6. Based on this, we should: Select an answer, fail to reject? reject? or accept? the null hypothesis. 7. Thus, the final conclusion is that ... a. The data suggest that the populaton mean is significantly different from 49,500 at αα = 0.01, so there is enough evidence to conclude that the population mean salary for graduates from your college is different from 49,500. b. The data suggest that the sample mean is not significantly different from 49,500 at αα = 0.01, so there is not enough evidence to conclude that the sample mean salary for graduates from your college is different from 45,634. c. The data suggest that the population mean is not significantly different from 49,500 at αα = 0.01, so there is not enough evidence to conclude that the population mean salary for graduates from your college is different from 49,500. 8. Interpret the p-value in the context of the study. If the population mean salary for graduates from your college is $49,500 and if another 64 graduates from your college are surveyed then there would be a 0.23618704% chance that the population mean would either be less than $45,634 or greater than $53,366. If the population mean salary for graduates from your college is $49,500 and if another 64 graduates from your college are surveyed then there would be a 0.23618704% chance that the sample mean for these 64 graduates from your college would either be less than $45,634 or greater than $53,366. There is a 0.23618704% chance of a Type I error. There is a 0.23618704% chance that the population mean salary for graduates from your college is not equal to $49,500 9. Interpret the level of significance in the context of the study. If the population mean salary for graduates from your college is $49,500 and if another 64 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 different from $49,500. There is a 1% chance that your won't graduate, so what's the point? If the population population mean salary for graduates from your college is different from $49,500 and if another 64 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 $49,500. There is a 1% chance that the population mean salary for graduates from your college is different from $49,500.

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MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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For this study, we should use? z-test for a population mean or t-test for a population mean
The null and alternative hypotheses would be:

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

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

3. The test statistic ? t or z = ______ (please show your answer to 3 decimal places.)

4. The p-value = ________ (Please show your answer to 4 decimal places.)

5. The p-value is ? > or ≤

6. Based on this, we should: Select an answer, fail to reject? reject? or accept? the null hypothesis.

7. Thus, the final conclusion is that ...

a. The data suggest that the populaton mean is significantly different from 49,500 at αα = 0.01, so there is enough evidence to conclude that the population mean salary for graduates from your college is different from 49,500.

b. The data suggest that the sample mean is not significantly different from 49,500 at αα = 0.01, so there is not enough evidence to conclude that the sample mean salary for graduates from your college is different from 45,634.

c. The data suggest that the population mean is not significantly different from 49,500 at αα = 0.01, so there is not enough evidence to conclude that the population mean salary for graduates from your college is different from 49,500.

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

If the population mean salary for graduates from your college is $49,500 and if another 64 graduates from your college are surveyed then there would be a 0.23618704% chance that the population mean would either be less than $45,634 or greater than $53,366.
If the population mean salary for graduates from your college is $49,500 and if another 64 graduates from your college are surveyed then there would be a 0.23618704% chance that the sample mean for these 64 graduates from your college would either be less than $45,634 or greater than $53,366.
There is a 0.23618704% chance of a Type I error.
There is a 0.23618704% chance that the population mean salary for graduates from your college is not equal to $49,500

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

If the population mean salary for graduates from your college is $49,500 and if another 64 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 different from $49,500.
There is a 1% chance that your won't graduate, so what's the point?
If the population population mean salary for graduates from your college is different from $49,500 and if another 64 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 $49,500.
There is a 1% chance that the population mean salary for graduates from your college is different from $49,500.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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