Solution) The average salary of graduates entering the actuarial field is reported to be $40,000. To test this
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 $4000. Using a = 0.05, has he shown the reported salary to be incorrect?
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