Posted by Barbara on Tuesday, June 8, 2010 at 1:45pm.
Use a one-sample z-test.
z = (sample mean - population mean)/(standard deviation divided by the square root of the sample size)
With your data:
z = (38250 - 39000)/(1200/√18) = ?
Finish the calculation.
Check a z-table at .05 level of significance for a one-tailed test.
If the z-test statistic exceeds the critical value from the z-table, reject the null. If the z-test statistic does not exceed the critical value from the z-table, do not reject the null.
I hope this will help get you started.
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