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T-test (small sample) hypothesis test for a mean

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?

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?

What is the critical t-value for a two-tailed test when alpha = 0.02 and d.f. = 19?

Solution Summary

This solution shows details for conducting a single sample (small sample) hypothesis test (t-test) regarding a population mean.