Question: A website reported that the average annual starting salary for graduates with bachelor's degrees in business in the United States was $50,079. The results for

A website reported that the average annual starting salary for graduates with bachelor's degrees in business in the United States was $50,079. The results for a sample of 100 graduates receiving a bachelor's degree in business who took jobs in Connecticut showed a mean starting salary of $51,200 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for graduates with bachelor's degrees in business who took jobs in Connecticut is greater than the mean nationwide starting salary for graduates with bachelor's degrees in business. Use

= 0.01

as the level of significance.State the null and alternative hypotheses. (Enter != for as needed.)

H₀:

H_a:

Find the value of the test statistic. ?(Round your answer to three decimal places.)Find the p-value. (Round your answer to four decimal places.)p-value =?

State your conclusion.Reject H₀. There is insufficient evidence to conclude that the mean starting salary for graduates with bachelor's degrees in business who took jobs in Connecticut is greater than the mean nationwide starting salary for graduates with bachelor's degrees in business.Do not reject H₀. There is insufficient evidence to conclude that the mean starting salary for graduates with bachelor's degrees in business who took jobs in Connecticut is greater than the mean nationwide starting salary for graduates with bachelor's degrees in business. Reject H₀. There is sufficient evidence to conclude that the mean starting salary for graduates with bachelor's degrees in business who took jobs in Connecticut is greater than the mean nationwide starting salary for graduates with bachelor's degrees in business.Do not reject H₀. There is sufficient evidence to conclude that the mean starting salary for graduates with bachelor's degrees in business who took jobs in Connecticut is greater than the mean nationwide starting salary for graduates with bachelor's degrees in business.

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