[Solved] The average salary of graduates entering the actuarial field is reported to be $40,000. To test this, a statistics professor surveys 20 graduates
Question: The average salary of graduates entering the actuarial field is reported to be $40,000. To test this, a statistics professor surveys 20 graduates and finds their average salary to be 43,228 with a standard deviation of $4,000. Using α = 0.05, has he shown the reported salary to be correct?
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![[Solution] Find the probabilities for the following:](/images/solutions/MC-solution-library-47125.jpg "[Solution] Find the probabilities for the following: P (z < -2.12)")
[Solution] Find the probabilities for the following: P (z < -2.12)
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