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8. The average salary of graduates entering the actuarial field is reported to be $10,000 To test, statistics professor surveys 20 graduates and finds their
8. The average salary of graduates entering the actuarial field is reported to be $10,000 To test, statistics professor surveys 20 graduates and finds their average salary to $13,228 with a standard deviation of $2200. Has he shown the reported salary to be incorrect? 0 Step 1 - Identify the parameter: . Step 2 - State the hypothesis and identify the claim: 0 Step 4 - Compute the test statistic and p-value 0 Step 5 - Make the decision to reject or not reject the null hypothesis 0 Step 6 - Summarize the results
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