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Hypothesis Tests

06/08/2020 Client: sathvik2009 Deadline: 3 days

   


Competency


Given a real-life application, develop a hypothesis test for a population parameter and its interpretation.


Instructions


Scenario (information repeated for deliverable 01, 03, and 04)


A major client  of your company is interested in the salary  distributions of jobs in the state  of Minnesota that range from $30,000  to $200,000 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  $75,000. 


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 $30,000 to $200,000 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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