49. According to the National Association of Colleges and Employers, the 2000 mean annual salary of business degree graduates in accounting was $37,000 (Time, May 8, 2000). In a follow-up study in June 2001, a sample of 48 graduating accounting majors provided a sample mean of $38,100 and a sample standard deviation of $5200.

a. Formulate the null and alternative hypotheses that can be used to determine whether the sample data support the conclusion that June 2001 graduates in accounting have a mean salary greater than the 2000 mean annual salary of $37,000.

b. What is the p-value?

c. Use α  .05. What is your conclusion? 50. The College Board reported that the average number of freshman class applications to public collegesanduniversitiesis6000(USAToday,December26,2002).Duringarecentapplication/ enrollment period, a sample of 32 colleges and universities showed that the sample mean number of freshman class applications was 5812 with a sample standard deviation of 1140. Do the data indicate a change in the mean number of applications? Use α  .05.