document.write( "Question 1177342: A recent report by the American Medical Association stated the average annual salary of psychiatrists is $189,121 with a population standard deviation of $26,975. A group of hospital administrators randomly sampled 64 psychiatrists and found an average annual salary of $198,630. The group claims that the average annual salary is actually higher than what the American Medical Association reported. At a= 0.01, what is the best conclusion of this test based on the p value? \n" ); document.write( "

Algebra.Com's Answer #806270 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi\r\n" );
document.write( "POpulation:    μ =  $189,121    σ =  $26,975\r\n" );
document.write( "n = 64   x̄ = $198,630\r\n" );
document.write( "Ho:  p =  $189,121 \r\n" );
document.write( "Ha:  p > $189,121\r\n" );
document.write( " a= 0.01 0r z = 2.326  ONe-tailed\r\n" );
document.write( "N > 60  AND population σ known.\r\n" );
document.write( "Appropriate for a z-test        \r\n" );
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document.write( "z = (198630 - 189121) / 26.975/sqrt(64) = 2.82\r\n" );
document.write( "p-value = .0024\r\n" );
document.write( " 2.82 > 2.326\r\n" );
document.write( "0r\r\n" );
document.write( ".0024< .05 Reject Ho.\r\n" );
document.write( "Conclusion:  average annual salary  > $189,121\r\n" );
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document.write( "Wish You the Best in your Studies.\r\n" );
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