Hypothesis Tests: A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $40,000 to $120,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions.
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $40,000 to $120,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:
A listing of the jobs by title
The salary (in dollars) for each job
In prior engagements, you have already explained to your
client about the basic statistics and discussed the importance of
constructing confidence intervals for the population mean. Your
client says that he remembers a little bit about hypothesis
testing, but he is a little fuzzy. He asks you to give him the full
explanation of all steps in a hypothesis testing and wants your
conclusion about a claim that the average salary for all jobs in
the state of Minnesota is less than $65,000.
Background information on the Data
The data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $40,000 to $120,000 for the state of Minnesota.
What to Submit
Your boss wants you to submit the spreadsheet with the completed calculations. Your research and analysis should be present within the answers provided on the worksheet.
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