Skitzy Schizophrenic at the American Medical Association wrote a report recently that stated the average annual salary of psychiatrists is $189,121with a population standard deviation of $26,975 (= 26975).A group of hospital administrators in the Northeast randomly sampled 64 psychiatrists (n = 64) and found an average annual salary of $196,430 (x=196,430 ).The group of administrators claims that the average annual salary in their region is actually higher than what Skitzy reported.

Conduct a hypothesis test to determine if the administrators are correct, that the average salary is significantly higher than reported by Skitzy. Test using the traditional method using = 0.05.

Make sure you provide all 5 steps to your hypothesis test