UCF is a major Metropolitan University located in Orlando Florida. UCF is advertising their bachelor in Economics with the statistic that the starting salary of a graduate with a bachelor in economics is $ 48,500 according to Payscale. com (2013-13) The Director of Institutional Research at UCF is interested in testing this information. She decides to conduct a survey of 30 randomly selected recent graduate economic students. The sample mean is $45,000 and the sample standard deviation is 15.000 The following is the printout from Excel Hypothesis Test about a Population Mean: Sigma Unknown Case
Sample Size 30
Sample Mean 45000
Standard Deviation Sample 15000
Hypothesized Test Value 48500
Standard Error ?
Test Statistic t-1.278
Degrees of Freedom 29
Alpha 0.05
Critical Value (two tail)+ or-2.045
P-value (Lower Tail) Na
P-value (Upper Tail) Na
P-value (Two tail)?
Using the given Null Hypothesis and level of significance
a) The null hypotheisis should not be rejected
b) Not enough information is given to answer this question.
c) I have no idea
d) The null hypotheisis should be rejected