You have obtained a report that includes starting salaries (yes, this again) for a certain population,...
You have obtained a report that includes starting salaries (yes, this again) for a certain population, and you’d like to see if the mean starting salary has changed, since the report is a few years old. The outdated report indicates that this population had a mean starting salary of $69.9k. You enroll 12 subjects who currently represent this population. The subjects in your sample have a sample mean starting salary, x̅, of $79.436k, and their sample standard deviation is equal to 15.
You may use this website: https://istats.shinyapps.io/Inference_mean/
A) Using the t-distribution table, calculate 95% confidence intervals around the sample mean.
B) Use a one-sample t-test to determine if the population represented by your sample of 12 subjects is equal to the reported starting salary of $69.9k. Reject the null hypothesis if your p-value is <0.05.
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