Test hypothesis that median salary of financial accountants

Reference no: EM13901902

In 2004, the national median salary of all U.S. financial accountants was $124,400. A recent random sample of 14 financial accountants showed 2007 incomes of (in units of $1,000) 125.5, 130.3, 133.0, 102.6, 198.0, 232.5, 106.8, 114.5, 122.0, 100.0, 118.8, 108.6, 312.7, 125.5

Use these data to test the hypothesis that the median salary of financial accountants in 2007 was not greater than in 2004. What is the p-value?

Reference no: EM13901902

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