Business and Management
The mean income per year of employees who produce internal and external newsletters and magazines for corporations was reported to be $51,500. These editors and designers work on corporate publications but not on marketing materials.
As a result of poor economic conditions and oversupply, these corporate communications workers may be experiencing a decrease in salary. A random sample of 38 corporate communications workers revealed that x‾ = 49,762.
Conduct a hypothesis test to determine whether there is any evidence to suggest that the mean income per year of corporate communications workers has decreased. Assume σ = 3750 and use a = 0.01.