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The following information regarding the yearly salaries (in $1,000) of CEOs in 2010 and 2009 are ...

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The following information regarding the yearly salaries (in $1,000) of CEOs in 2010 and 2009 are ...

The following information regarding the yearly salaries (in $1,000) of CEO’s in 2010 and 2009 are provided.

	Year 2010	Year 2009
Sample size	190	145
Sample Mean	560	540
Population Standard Deviation	80	90

a.	At 95% confidence, perform a test to determine if there has been a significant *increase* in the salaries of CEO’s. Use the Critical Value Approach.
b.	Compute the p-value.

Textbook

Essentials of Statistics for Business and Economics

Edition: 7^th

Authors: Anderson, Sweeney, Williams, Camm, Cochran

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