A Wall Street Journal article discussed the impact that the recent economic downturn has had on the
Question:
A Wall Street Journal article discussed the impact that the recent economic downturn has had on the job market for clergy. Many churches have reduced or frozen the salaries and benefits for their clergy because donations from churchgoers have declined. The article reported that the average salary for an associate pastor with 10 years of experience is $ 64,000. Suppose that to investigate whether this average has changed recently, the National Association of Church Business Administration conducted a salary survey of pastors. The results can be found in the Excel file labeled Pastor. xlsx. Using PHStat with σ = 0.05, answer the following:
a. State the null and alternative hypotheses.
b. Do these data provide enough evidence to conclude that the average pastor salary has changed?
c. Estimate the p value for this test using Table 5 in Appendix A.
d. Determine the precise p value for this test using Excel.
e. Use PHStat to validate these results.
Step by Step Answer: