After 5 years of working experience, a sample of 50 BCom graduates earned an average of R600 000 per annum with a standard deviation of R15000 and a random sample of 62 Financial Math graduates earned an average of R620 000 per annum with a sample standard deviation of R18000. Testing if the average earnings of Financial Math graduates is greater than that of BCom students gives us the following conclusion:
Added by Sherri O.
Step 1
Therefore, our null hypothesis (H0) is that there is no difference in average earnings, or the average earnings of Financial Math graduates is not greater than BCom students. The alternative hypothesis (H1) is that the average earnings of Financial Math graduates Show more…
Show all steps
Close
Your feedback will help us improve your experience
Suman K and 93 other Intro Stats / AP Statistics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
A researcher wishes to test the claim that the average cost of tuition and fees at a four-year public college is greater than R5,700. She selects a random sample of 36 four-year public colleges and finds the sample mean to be R5,950 and the sample standard deviation to be R659. Use a significance level of 5% to test her claim. Calculate the value of the test statistic.
Suman K.
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $170,000. Assume the standard deviation is $42,000. Suppose you take a simple random sample of 49 graduates. Round all answers to four decimal places if necessary. What is the distribution of X ? X ~ N( , ) What is the distribution of ¯ x ? ¯ x ~ N( , ) For a single randomly selected graduate, find the probability that her salary is between $166,400 and $172,000. For a simple random sample of 49 graduates, find the probability that the average salary is between $166,400 and $172,000. For part d), is the assumption of normal necessary? No or Yes
David N.
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $170,000. Assume the standard deviation is $37,000. Suppose you take a simple random sample of 44 graduates. Round all answers to four decimal places if necessary. What is the distribution of ¯xx¯? ¯xx¯ ~ N(,) For a single randomly selected graduate, find the probability that her salary is between $163,633 and $169,422. For a simple random sample of 44 graduates, find the probability that the average salary is between $163,633 and $169,422.
Recommended Textbooks
Elementary Statistics a Step by Step Approach
The Practice of Statistics for AP
Introductory Statistics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD