The dean of a business school claims that the average starting salary of its graduates is...
The dean of a business school claims that the average starting salary of its graduates is at least 60 (in £000’s). It is known that the population standard deviation is 10 (in £000’s). Sample data on the starting salaries of 64 randomly selected recent graduates yielded a mean of 62 (in £000's). What is the critical value for the rejection region if the level of significance is 5%?
Select one:
a. 1.80
b. 1.65
c. 1.85
d. 1.60
e. 2.00
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