Discussion:
Q: The median annual income for college graduates with a bachelor's degree is $37700. Data for a sample of college graduates with a bachelor's degree working in the Chicago area are shown. Use the sample of data to show Ho: median ? 37.7 and Ha: median > 37.7 for the population of college graduates with a bachelor's degree working in the Chicago area. Use a 0.05 level of significance. What is your conclusion?
| Income |
| 47.8 |
| 47.2 |
| 55.5 |
| 41.2 |
| 21.3 |
| 42.4 |
| 51.9 |
| 32.8 |
| 30.2 |
| 38.5 |
| 41.7 |
| 42.6 |
| 127.8 |
| 45.7 |
| 42.4 |
| 25.0 |
| 25.3 |
| 24.4 |
| 60.6 |
| 31.1 |
| 31.4 |
| 105.3 |
| 73.7 |
| 37.7 |
| 61.2 |
| 43.2 |
| 39.3 |
| 69.0 |
| 43.4 |
| 91.0 |
| 56.9 |
| 38.8 |
| 25.2 |
| 30.4 |
| 23.8 |
| 36.2 |
| 65.0 |
| 25.1 |
| 34.9 |
| 23.6 |
| 55.2 |
| 30.0 |
| 68.4 |
| 91.1 |
| 34.1 |
| 76.7 |
| 38.0 |
| 48.7 |
| 37.7 |
| 56.1 |