Discussion:
Q1: A recent report from the American Medical Association claims that for the first time in ten years, the average salary of psychiatrists was greater than $190,000 with a standard deviation of $27,000. What is the null hypothesis for his claim?
Q2: The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,250. A sample of 36 homes for sale in this subdivision has an average selling price of $127,500 with a standard deviation of $7,250. At alpha = 0.05, what is the test value?
Q3: What is the critical t-value for a two-tailed test when alpha = 0.02 and d.f. = 19?