A senior accounting major at Midsouth State University has job offers from four CPA firms. To explore the offers further, she asked a sample of recent trainees from each firm: How many months did you work before receiving a raise in salary? Using the following ANOVA table, is there a difference in the mean number of months before receiving a raise among the four firms? Use the 0.01 level of significance. Analysis of Variance Source SS df MS F p Factor 31.00 3 10.33 5.44 0.008 Error 32.34 17 1.90 Total 63.34 20 a. What are the null and alternate hypotheses? H0: H1: b. What is the test statistic? (Round your answer to 2 decimal places.) c. What is the p-value? (Round your answer to 3 decimal places.) d. What is your decision regarding the null hypothesis? e. Interpret the result.
A senior accounting major at Midsouth State University has job offers from four CPA firms. To explore the offers further, she asked a sample of recent trainees from each firm: How many months did you work before receiving a raise in salary? Using the following ANOVA table, is there a difference in the mean number of months before receiving a raise among the four firms? Use the 0.01 level of significance.
Analysis of Variance | |||||
Source | SS | df | MS | F | p |
Factor | 31.00 | 3 | 10.33 | 5.44 | 0.008 |
Error | 32.34 | 17 | 1.90 | ||
Total | 63.34 | 20 | |||
a. What are the null and alternate hypotheses?
H0:
H1:
b. What is the test statistic? (Round your answer to 2 decimal places.)
c. What is the p-value? (Round your answer to 3 decimal places.)
d. What is your decision regarding the null hypothesis?
e. Interpret the result.
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