"(i) P(-0.91 ≤ Z≤ c) = 0.8123
1. According to the National Association of Colleges and Employers, the 2000 mean annual salary of business degree graduates in accounting was $37,000. In a follow-up study in June 2001, a sample of 48 graduating accounting majors provided a sample mean of $38,100 and a sample standard deviation of $5200.
(1) Formulate the null and alternative hypotheses that can be used to determine whether the sample data support the conclusion that June 2001 graduates in according have a mean salary greater than 2000 mean annual salary of $37,000.
(ii) What is the P-value?
(iii) Using a = 0.05. What is your conclusion?