The average salary, including bonus payments, of Wall Street workers was $398,600 in 2018 (according to Newsday). Assume a population standard deviation of $170,000. Suppose you are hoping to be hired by one of these firms after graduation. You want to determine whether the average salary at the firm you are looking at is different from the other securities firms. Required:
State the null and alternative hypotheses you would use to test whether the firm's annual salary was different from the population mean.