Explore BrainMass

Explore BrainMass

    Hypothesis Test for the Average Income of a Sold Proprietor CPA

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A ten year old survey found that the average income of sole proprietor CPA's was $74,914. To update this information, a new survey of 112 proprietor CPA's was taken and it showed a mean of $74,695. Use a 5% level of significance to test whether the average income sole proprietor CPA's has increased. Assume a population standard deviation of $14.530. Report the value. What is is your conclusion?

    © BrainMass Inc. brainmass.com June 4, 2020, 2:14 am ad1c9bdddf
    https://brainmass.com/statistics/hypothesis-testing/hypothesis-test-average-income-sold-proprietor-cpa-448326

    Solution Preview

    Solution.

    Null hypothesis H0: mu<=$74,914
    Alternative hypothesis Ha: mu>$74,914

    Given xbar=74695, n=112, sigma=14530. ...

    Solution Summary

    The solution reports the value for the average income of sold proprietor CPA.

    $2.19

    ADVERTISEMENT