According to management accounting, salary figures for certified management accountants (cmas) who are in the field less than 1 year are normally distributed with a mean of $31,129. a random sample of 15 firstyear cmas in denver produces a mean salary of $32,279, with a standard deviation of $1,797. test the hypothesis that the mean for all denver firstyear cmas is not equal to $31,129. use the .05 level of significance.

The Mean is not equal to $31,129.

Step-by-step explanation:

Consider the provided information.

The mean is $31129

Thus, the null hypothesis

Alternative hypothesis

A random sample of 15 firstyear CMAs in Denver produces a mean salary of $32,279, with a standard deviation of $1,797.

Thus the value mean of sample is 32279, standard deviation is 1797 and number of samples are 15.

Now use the 2 sided t-test.

Now substitute the respective values in the above formula.

Test Value = 2.4785  approximately

Now, find the corresponding p-value in your t-table with DF(degree of freedom) 14.

p = 0.0265  

as the value of  p < 0.05, so you reject null hypothesis.  

Thus, the Mean is not equal to $31,129.

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