Barron's has collected data on the top 1,000 financial advisers. Company A and Company B have many of their advisers on this list. A sample of 16 of the Company A advisers and 10 of the Company B advisers showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by the Company A advisers was s1 = $584 million. The standard deviation of the amount managed by the Company B advisers was s2 = $489 million. Conduct a hypothesis test at ? = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. H0: σ12 ≠ σ22 Ha: σ12 = σ22 H0: σ12 > σ22 Ha: σ12 ≤ σ22 H0: σ12 = σ22 Ha: σ12 ≠ σ22 H0: σ12 ≤ σ22 Ha: σ12 > σ22 Find the value of the test statistic. (Round your answer to two decimal places.) ( ) Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. Do not reject H0. We can conclude there is a statistically significant difference between the variances for the two companies. Reject H0. We cannot conclude there is a statistically significant difference between the variances for the two companies. Reject H0. We can conclude there is a statistically significant difference between the variances for the two companies. Do not reject H0. We cannot conclude there is a statistically significant difference between the variances for the two companies.

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Description: Barron's has collected data on the top 1,000 financial advisers. Company A and Company B have many of their advisers on this list. A sample of 16 of the Company A advisers and 10 of the Company B advisers showed that the advisers managed many very la

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Barron's has collected data on the top 1,000 financial advisers. Company A and Company B have many of their advisers on this list. A sample of 16 of the Company A advisers and 10 of the Company B advisers showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by the Company A advisers was s₁ = $584 million.
The standard deviation of the amount managed by the Company B advisers was s² = $489 million.
Conduct a hypothesis test at ? = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms?

State the null and alternative hypotheses.

H₀: σ₁² ≠ σ₂²

H_a: σ₁² = σ₂²

H₀: σ₁² > σ₂²

H_a: σ₁² ≤ σ₂²

H₀: σ₁² = σ₂²

H_a: σ₁² ≠ σ₂²

H₀: σ₁² ≤ σ₂²

H_a: σ₁² > σ₂²

Find the value of the test statistic. (Round your answer to two decimal places.)

( )

Find the p-value. (Round your answer to four decimal places.)

p-value =

State your conclusion.

Do not reject H₀. We can conclude there is a statistically significant difference between the variances for the two companies.

Reject H₀. We cannot conclude there is a statistically significant difference between the variances for the two companies.

Reject H₀. We can conclude there is a statistically significant difference between the variances for the two companies.

Do not reject H₀. We cannot conclude there is a statistically significant difference between the variances for the two companies.

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