Statistics Solutions

[Solution Library] John would like to [mow if the alumni from University B actor more than the average college graduate. He took a simple random sample of 500 University

Question: John would like to [mow if the alumni from University B actor more than the average college graduate. He took a simple random sample of 500 University B alumni and found their average annual income to be $51,250 with a SD of $11,000. Nationally, the average college graduate makes $50,000. Please help John with a hypothesis test to figure out if, on average, University B alumni earn more than the national average among college graduates.

Null Hypothesis: \({{H}_{0}}:\mu =\\)50,000$

Alternative Hypothesis: \({{H}_{A}}:\mu >\\)50,000$

Test statistic: t = 2.541

P-value: 0.0057

Conclusion: There is enough evidence to support the claim that on average, University B alumni earn more than the national average among college graduates.

Price: $2.99
Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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