Here are the essential concepts you must grasp in order to answer the question correctly.
Population Mean
The population mean is the average of a set of values in a complete population. In this context, it represents the average salary of all senior-level civil engineers, which is $131,935. Understanding the population mean is crucial for making inferences about the data and comparing it to sample statistics.
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t-Distribution
The t-distribution is a type of probability distribution that is symmetric and bell-shaped, similar to the normal distribution but with heavier tails. It is used in statistics when the sample size is small or the population standard deviation is unknown. The t-values, such as -t0.95 and t0.95, represent critical values that help determine the range of values for hypothesis testing.
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Hypothesis Testing
Hypothesis testing is a statistical method used to make decisions about a population based on sample data. It involves formulating a null hypothesis and an alternative hypothesis, then using test statistics (like t-values) to determine whether to reject the null hypothesis. In this case, checking if the t-value falls between -t0.95 and t0.95 helps assess the significance of the sample mean in relation to the population mean.
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