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The test is that at 05 the same mean salary is 60000

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Unformatted text preview: your Part B to the project. You will label the Mean as “x”, and the Standard Deviation as “s”. Once you have this data, please go to the next row below: HYPOTHESIS TEST There is a sample of 5 salaries ($27,000; $45,000; $47,000; $57,438; $90,000). The test is that at α = .05 the same mean salary is $60,000. Step 1: State the hypothesis H₀: µ = $60,000 Hₐ:µ ! $60,000 This is a two ­tailed test Step 2: Specify the level of significance: α = .05 Step 3: Identify the degrees of freedom: Sample size n = 5 Okay…. Now we are ready to start the Hypothesis test  For this part, you will take the values and plug them in to each step. Step 1) Notice that the 60,000 was what the student set the “u” equal to and not equal to. Use your value here for “u”  Step 2) I recommend using the same value of “alpha” of 0.5 Step 3) Degrees of freedom is found by taking the sample size and subtracting 1 d.f. = n – 1 d.f. = 4 Step 4: Determine the critical values: With α = .05 and 4 degrees of freedom, the critical values is t = 2.776 Step 5: Determine the rejection regions: t <  ­2.776 and t > 2.776 Step 6: Find the standardized statistic: t = (ẍ - µ) / (s / √n) t = (53,348 - 60000) / (21247.92/√5) t≈  ­0.7 Step 7: Draw a conclusion: Because the value t =  ­0.7 is not less than  ­2.776 or greater than 2.776, then it is not in the rejection region. Therefore, we fail to re...
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