Question
Mathcorp has 35,000 employees and claims that the average salary is $50,000. You are an investigative journalist who wants to know what the average salary
Mathcorp has 35,000 employees and claims that the average salary is $50,000. You are an investigative journalist who wants to know what the average salaryactuallyis for a Mathcorp employee, but the company does not publically post their budget or salaries.
You post a question on popular online message boardRead It, and 57 employees respond. However, you can only verify 36 of the results after calling Mathcorp and speaking with the employee directly on the phone. You decide to use these 36 people as your sample.
After collecting the results into a spreadsheet, you run the calculation and find out that the mean average salary is $45,215.15291. You decide to just round that to $45,215. Furthermore, after rounding, the standard deviation of your sample is $9,512.
question
- Run a full hypothesis test with a significance level of 5%.
- Interpret your results in the context of the situation. Is the company lying? Are you sure?
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