Question

A report states that the mean yearly salary offer for students graduating with a degree in accounting is $48,752. Suppose that a random sample of 50 accounting graduates at a large university who received job offers resulted in a mean offer of $49,890 and a standard deviation of $3300. Do the sample data provide strong support for the claim that the mean salary offer for accounting graduates of this university is higher than the national average of $48,752? Test the relevant hypotheses using

α = 0.05.

(Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)

t	=
P-value	=

State your conclusion.

A.) Do not reject H₀. We do not have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,752.

B.) Do not reject H₀. We have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,752.    

C.) Reject H₀. We have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,752.

D.) Reject H₀. We do not have convincing evidence that the mean salary offer for accounting graduates of this university is higher than the national average of $48,752.

Answer 1