The average yearly earnings of male college graduates (with at least a bachelor€™s degree) are $58,500 for men aged 25 to 34. The average yearly earnings of female college graduates with the same qualifications are $49,339. Based on the results below, can it be concluded that there is a difference in mean earnings between male and female college graduates? Use the 0.01 level of significance.

a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.

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Male Female $59,235 S52,487 Population standard deviation 8,945 10,125 35 Sample mean Sample size 40