12. [-70.87 Points] DETAILS ASWSBE13 9.E.063. You may need to use the appropriate technology to answer this question. MY

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12 70 87 Points Details Aswsbe13 9 E 063 You May Need To Use The Appropriate Technology To Answer This Question My 1 (67.85 KiB) Viewed 24 times

12. [-70.87 Points] DETAILS ASWSBE13 9.E.063. You may need to use the appropriate technology to answer this question. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The Wall Street Journal reported that bachelor's degree recipients with majors in business received average starting salaries of $53,900 in 2012. The results for a sample of 100 business majors receiving a bachelor's degree in 2013 showed a mean starting salary of $55,177 with a sample standard deviation of $5,200. 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 a = 0.01 as the level of significance. State the null and alternative hypotheses. o Hs: 1 2 53,900 Ha: < 53,900 Hoiul = 53,900 Ha: 53,900 o Hoiu 5 53,900 Hau > 53,900 o Hoiul < 53,900 Η.: μ2 53,900 o Hoiu > 53,900 Haus 53,900 Find the value of the test statistic. (Round your answer to three decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. Reject H. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2013. Reject Ho. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2013. O Do not reject Ho. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2013. O Do not reject Ho. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2013.