You may need to use the appropriate technology to answer this question. Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class: Finance Majors Business Analytics Majors Ho: n₁ = 120 X₁ = $48,437 $₁ = $19,000 x₂ = $55,417 $₂ = $10,000 (a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use a = 0.05. (Le population mean salary for Finance majors, and let #₂ = the population mean salary for Business Analytics majors. Enter != for as needed.) H₂: n₂ = 30 (b) What is the value of the test statistic? (Use #₁ - H₂. Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) p-value= (d) What is your conclusion? O Reject H. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Do not reject H. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. O Do not reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Reject H. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
You may need to use the appropriate technology to answer this question. Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class: Finance Majors Business Analytics Majors Ho: n₁ = 120 X₁ = $48,437 $₁ = $19,000 x₂ = $55,417 $₂ = $10,000 (a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use a = 0.05. (Le population mean salary for Finance majors, and let #₂ = the population mean salary for Business Analytics majors. Enter != for as needed.) H₂: n₂ = 30 (b) What is the value of the test statistic? (Use #₁ - H₂. Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) p-value= (d) What is your conclusion? O Reject H. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Do not reject H. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. O Do not reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Reject H. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.EA: Extended Application Using Extrapolation To Predict Life Expectancy
Problem 5EA
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Question
Transcribed Image Text:You may need to use the appropriate technology to answer this question.
Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class:
Ho:
Finance Majors
H₂
n₁
X1 = $48,437
= 120
(a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use a = 0.05. (Let μ = the
population mean salary for Finance majors, and let #₂ = the population mean salary for Business Analytics majors. Enter != for # as needed.)
$1= $19,000
63°F
Cloudy
Business Analytics Majors
n₂ = 30
x₂ = $55,417
x2
S₂ = $10,000
(b) What is the value of the test statistic? (Use μ₁-2. Round your answer to three decimal places.)
(c) What is the p-value? (Round your answer to four decimal places.)
p-value =
(d) What is your conclusion?
O Reject Ho
We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
Do not reject H. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics
majors.
Do not reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
Reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
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