A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The mean square error (MSE) was 243.7. The following table summarized the results: Number Sampled Mean Salary (1,000) High School or Less 7 49 Undergraduate Degree 11 76.3 Master's Degree or More 12 78.3 When comparing the mean annual incomes for executives with an undergraduate degree and those with a high school education or less, the 95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that

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executives with an undergraduate degree earn significantly less than executives with a high school education or less
there is no significant difference between the two incomes
the interval contains a difference of zero
executives with an undergraduate degree earn significantly more than executives with a high school education or less
4
Transcribed Image Text:Multiple Choice O executives with an undergraduate degree earn significantly less than executives with a high school education or less there is no significant difference between the two incomes the interval contains a difference of zero executives with an undergraduate degree earn significantly more than executives with a high school education or less 4
A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of
education The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The mean square error
(MSE) was 243.7. The following table summarized the results:
Number Sampled
Mean Salary (1,000s)
High School or
Less
7
49
Undergraduate
Degree
11
76.3
Master's Degree or
More
12
78.3
When comparing the mean annual incomes for executives with an undergraduate degree and those with a high school education or less, the
95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that
Transcribed Image Text:A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The mean square error (MSE) was 243.7. The following table summarized the results: Number Sampled Mean Salary (1,000s) High School or Less 7 49 Undergraduate Degree 11 76.3 Master's Degree or More 12 78.3 When comparing the mean annual incomes for executives with an undergraduate degree and those with a high school education or less, the 95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that
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