The median salary for a chiropractor in the United States is $81,500 per year, according to the U.S. Department of Labor. A group of recent graduates believe this amount is too low. In a random sample of 205 chiropractors who recently graduated, 170 began with a salary of more than $81,500 and five earned a salary of exactly $81,500.
a. State the null and alternate hypotheses.
b. State the decision rule. Use the .05 significance level.
c. Do the necessary computations and interpret the results.