The dean of a business school claims that the average starting salary of its graduates is more than 85 (in $000’s). It is known that the population standard deviation is 10 (in $000’s). Sample data on the starting salaries of 64 randomly selected recent graduates yielded a mean of 88 (in $000s). Which of the following sets of hypotheses is correct? H0: μ = 85 and Ha: μ < 85 H0: μ > 85 and Ha: μ < 85 H0: μ = 85 and Ha: μ > 85 H0: μ < 85 and Ha: μ > 85 H0: μ = 85 and Ha: μ ≠ 85

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.