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)***