The following information shows the yearly salaries (in $1,000) of samples of physicians for 2013 and 2012.
(1)
(2)
Year 2013
Year 2012
Sample Size
280
244
Sample Mean
790
685
100
110
We want to perform a test to determine if there has been a significant increase in the salaries of physicians. In your computations, please use “1” to represent year 2013.
a. State the null and alternative hypotheses to be tested.
Ho:
Ha:
b. Compute the test statistic.
c. The null hypothesis is to be tested at 95% confidence. Determine the critical value from the table.
d. What do you conclude? Fully explain and answer the question.
e. Compute the p-value.
a.
Ho: μ1 - μ2≤ 0
Ha: μ1 -μ2 > 0
b. Z=11.369
c. 1.645
d. Reject Ho
e. Almost zero
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