The following table shows the annual salaries, in thousands of dollars, earned by individuals who graduated with MBAs in 2012 and 2013. These data can also be found in the Excel file graduate salaries.xlsx.

2012 Graduates ($) 2013 Graduates ($) 64.9 55.5 59.4 64.6 48.0 70.7 74.8 44.4 62.5 52.9 55.0 87.8 58.5 41.6 34.2 67.4 56.5 82.7 68.0 46.8 98.1 96.8 78.8 49.3 36.6 46.9 53.9 36.2 40.6 Perform a hypothesis test using a = 0.05 to determine if the median salary for 2012 MBA graduates is lower than 2013 MBA graduates.

AppendixLO1