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Determining the level of significance

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The Wall Street Journal reported that bachelor's degree recipients with majors in business received average starting salaries of $53,900
in 2012 (the Wall Street Journal, March 17, 2014). The results for a sample of 100 business majors receiving a bachelor's degree in 2013 showed a mean starting salary of $55,144 with a sample standard deviation of $5200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012. use α = .01 as the level of significance?

WHAT IS THE CRITICAL VALUE?

Reference no: EM131658994

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