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T The Wall Street Journal reported that bachelor's degree recipients with majors in business received average starling salaries of $51,508 in 2o15 (Hie we}: Street Journal, March 1?, 2014]. The results for a sample of 100 business majors receiving a bachelor's degree in 2016 showed a mean sterling salary of $52,236. Assume the population is nonuallv distributed with a standard deviation of $5200. {a} Formulate hypoleses for a test to determine wheliler the mean starling salaryfor business majors in 2016 isgreaterlanmmeanstariingsalaryinaol. Ang51236vsJiame52J236 B.Ha:p25e236vs.Ha:h{52,236 (3. Ho :h5517508vs. Ha:p.}51,503 D.Ho:p:35iJ508 vs. mitt-151,503 E. None ofthe above. Theoolreetansweris: [b] Compute The value of the test statistic for the hypotheses formia'ted above. Use two decimal places. A. z = 140 E. t = 14o C. 2 = -1.40 D. t = 1_4o E. None of the above. The oorreet answer is: (c) Compute the pvahie of The test stastic above. [:1] (1 pt} At a = 0.05, which ofthe follmving is true about the hypotheses formulated above? A.RejectHo. B.FailtorejectHo. C. Aeoept Ha. I}. Fail to aeoept Ha. E. None of the above. The oorreet answer is: {e} At :1 = 0.05, what is your praccal conclusion about the hypotheses formulated above? A Thereis signicant esdder1cethatthemeanstartingsala1yh12016inc1easedfromthe2015 average. Thereisnosignicantevidenoethatthemeanstarlingsalaiyinaolinereasedfrommeaolaverage. Thereis signicant evidencethatthemeanstarlingsalaljiinaoldecreasedumthe 2015average. B. C- D. Thereisnosignicantevidenoethatthemeanstarlingsalamir12016decreased'omthe20t5average. E. None oftheabove. The correctansweris: (f) Hmvlargea sampleis requiredifaresearchernmldliketo esmatemean starlingsalaryirbusiness majors within $500 with 90% condence