Question
Conestoga college recently released a flyer in an attempt to recruit accounting students for their business school. In the flyer, Conestoga college claims that the
Conestoga college recently released a flyer in an attempt to recruit accounting students for their business school. In the flyer, Conestoga college claims that the mean first year graduate salary of their accounting students is $50,000, whereas their biggest competition for accounting students, Fanshawe College, have a first year graduate salary of only $45,000.
After reading Conestoga's recruiting flyer, Fanshawe College executives believe that their own graduate salaries might have been initially incorrectly stated and as a result have conducted their own study. Based on the sample below, at 1% level of significance is there evidence that Fanshawe's first year accounting graduates salaries are not as claimed?
Fanshawe College First Year Accounting Graduate Salaries | |||||||||
$35,250 | $56,500 | $49,750 | $36,000 | $36,750 | $40,000 | $55,250 | $32,750 | $59,250 | $60,750 |
$43,000 | $37,500 | $33,750 | $42,500 | $56,250 | $47,750 | $56,750 | $37,500 | $39,750 | $51,500 |
$32,750 | $51,500 | $30,500 | $31,500 | $41,500 | $49,750 | $43,000 | $60,000 | $33,250 | $40,250 |
$52,750 | $36,000 | $55,000 | $37,500 | $44,750 | $58,250 | $35,500 | $52,500 | $49,250 | $34,500 |
$56,250 | $58,750 | $35,500 | $50,750 | $40,250 | $48,250 | $31,250 | $55,000 | $44,250 | $58,250 |
$53,500 | $46,000 | $48,750 | $39,000 | $45,500 | $50,500 | $44,250 | $37,750 | $43,000 | $42,750 |
$45,500 | $43,000 | $40,250 | $38,000 | $41,750 | $56,000 | $60,750 | $49,750 | $33,250 | $58,500 |
$38,500 | $42,750 | $47,500 | $44,500 | $39,750 | $59,250 | $51,750 | $32,250 | $41,500 | $36,250 |
$30,250 | $48,750 | $56,750 | $44,250 | $45,750 | $40,250 | $36,750 | $40,250 | $60,750 | $43,750 |
$47,000 | $53,750 | $54,500 | $42,250 | $55,250 | $54,500 | $54,000 | $55,750 | $58,750 | $58,250 |
$59,500 | $31,000 | $50,500 | $45,250 | $51,750 | $53,000 | $56,250 | $49,250 | $56,250 | $42,000 |
$44,750 | $35,250 | $52,750 | $38,000 | $59,750 | $59,750 | $47,500 | $56,750 | $38,500 | $59,750 |
$37,000 | $45,250 | $39,500 | $58,500 | $50,750 | $45,750 | $52,000 | $41,500 | $31,250 | $55,000 |
$40,000 | $55,750 | $41,750 | $50,000 | $42,250 | $52,500 | $37,500 | $47,250 | $57,500 | $60,750 |
$37,000 | $56,250 | $55,750 | $55,750 | $48,500 | $30,750 | $36,250 | $47,250 | $38,500 | $50,750 |
$34,750 | $38,250 | $53,250 | $33,250 | $43,250 | $46,750 | $44,500 | $37,750 | $48,250 | $40,500 |
$49,500 | $56,000 | $57,500 | $58,250 | $35,000 | $53,500 | $60,000 | $34,500 | $47,750 | $38,750 |
$53,500 | $36,250 | $47,250 | $60,250 | $36,500 | $51,250 | $59,750 | $43,500 | $42,250 | $60,250 |
$30,000 | $57,500 | $58,500 | $40,000 | $33,000 | $59,750 | $33,750 | $42,750 | $49,750 | $46,750 |
$48,500 | $40,250 | $52,500 | $44,750 | $49,750 | $50,750 | $31,750 | $44,750 | $51,750 | $56,250 |
$49,000 | $44,000 | $45,000 | $42,500 | $37,500 | $48,250 | $46,000 | $41,750 | $47,500 | $59,500 |
$50,500 | $56,250 | $34,000 | $31,250 | $46,500 | $40,500 | $49,000 | $57,250 | $45,750 | $37,500 |
BLANK #1: Is this a question involving mean or proportion? ***ANSWER "MEAN" OR "PROPORTION" (WITHOUT THE QUOTATION MARKS)***
BLANK #2: Which type of distribution should be used to calculate the probability for this question? ***ANSWER "NORMAL", "T", OR "BINOMIAL" (WITHOUT THE QUOTATION MARKS)***
BLANK #3: Which of the following options are the appropriate hypotheses for this question: ***ANSWER WITH THE CORRECT LETTER,WITHOUT ANY QUOTATION MARKS OR BRACKETS***
A) H0: = $45,000 H1: > $45,000
B) H0: = $45,000 H1: < $45,000
C) H0: = $45,000 H1: $45,000
D) H0: p = $45,000 H1: p > $45,000
E) H0: p = $45,000 H1: p < $45,000
F) H0: p = $45,000 H1: p $45,000
BLANK #4: What is the p-value of this sample? ***ANSWER TO 4 DECIMALS, BE SURE TO INCLUDE LEADING ZERO, EXAMPLE "0.1234"...NOT ".1234"***
BLANK#5: Based on this sample, at 1% level of significance is there evidence that Fanshawe's first year accounting graduates salaries are not as claimed? ***ANSWER "YES" OR "NO" (WITHOUT THE QUOTATION MARKS)***
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