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As part of the Human Resources department in your accounting rm, you want to ensure your employees are being paid fairly. One way you decide
As part of the Human Resources department in your accounting rm, you want to ensure your employees are being paid fairly. One way you decide test this, is to examine if accountant salaries in your company are similar to national averages. You do not necessarily expect salaries to be larger or smaller than the average. A large national survey of accounts recently found that the average salary was $68,000 with a SD of $8,000. After sampling 200 accountants in your organization, you nd their average salary is $70,000. Use a two-tailed ztest at the 5% level of signicance to determine if there is a significant difference between the national average and salaries in your company. State alternative hypothesis State null hypothesis List your test statistic . Is this difference statistically signicant? hype
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