Question: A small college in southern Ontario advertises that its business
A small college in southern Ontario advertises that its business graduates earn an average annual income of $37,323 the first year after graduation. A researcher has been given the task of checking the claim for the 2010 year. A random survey of 45 of the college's business graduates produces a data set that is available in MyStatLab. Does this sample provide evidence that the average annual income of Business graduates in the first year after graduation is less than $37,323? You may assume that the standard deviation of all graduates' salaries is equal to the sample standard deviation.
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