1. Math
2. Statistics And Probability
3. the file salariesmtw contains the starting salaries of a sample...

# Question: the file salariesmtw contains the starting salaries of a sample...

###### Question details

The file salaries.mtw contains the starting salaries of a sample of new commerce graduates.

(a) Test at the 0.05 level of significance whether there is sufficient evidence to conclude that the average starting salary of all new commerce grads exceeds \$50,000. Use the critical value approach and show manually how the t-statistic is calculated.

(b) Now show how you would calculate the p-value for the result in part (a).

(c) Calculate manually a 95% 1-sided confidence interval for the average salary.

(d) Explain why the p-value and confidence interval do or do not support your conclusion in part (a).

(e) Show a boxplot of the data and explain whether the assumptions of the test and confidence interval are reasonable

salary
47508
52802
54906
62425
44996
41279
54308
56199
74659
53188
58387
62125
56557
44685
30962
53814
64389
57446
57694
51371
52474
47797
51889
45710
46557
52960
70545
50568
34922
64528
40670
53530
65170

###### Solution by an expert tutor 