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13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 9, Problem 63SE

Textbook Problem

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The *Wall Street Journal* reported that bachelor’s degree recipients with majors in business received average starting salaries of $53,900 in 2012 (*The Wall Street Journal*, March 17, 2014). The results for a sample of 100 business majors receiving a bachelor’s degree in 2013 showed a mean starting salary of $55,144 with a sample standard deviation of $5200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012. Use *α* = .01 as the level of significance.

To determine

Test whether the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012.

**Calculation:**

The given information is that

Here, the claim is that the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012. This can be written as

The null and alternative hypotheses are given below:

*Null hypothesis:*

*Alternative hypothesis:*

*Test statistic and p-value:*

**Software Procedure:**

Step-by-step procedure to obtain the test statistic using the MINITAB software:

- Choose
**Stat > Basic Statistics > 1-Sample**.*t* - In
**Summarized data,**enter the**sample size as 100**and**mean as 55,144**

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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