In your sample, there are two groups of people: those who have a high school degree and those who have a bachelor's degree or higher. The following table shows the sample statistics of the two groups. You hypothesize that in general those who have a bachelor's degree or higher should earn more than those who have a high school degree. The estimated standard error is $360. Education Group 1 High school Group 2 BA or higher Sample size 361 169 mean $19,500 $20,500 st.dev $3,800 $3,900

MATLAB: An Introduction with Applications
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Conduct a t-test at the .01 level. In the answer, please state the hypotheses, critical value, what test you use (one-tailed or two-tailed), the t-statistic, null hypothesis, research hypothesis 

In your sample, there are two groups of people: those who have a high school degree
and those who have a bachelor's degree or higher. The following table shows the
sample statistics of the two groups. You hypothesize that in general those who have
a bachelor's degree or higher should earn more than those who have a high school
degree. The estimated standard error is $360.
Education
Group 1
High school
Group 2
BA or higher
Sample size
361
169
mean
$19,500
$20,500
st.dev
$3,800
$3,900
Transcribed Image Text:In your sample, there are two groups of people: those who have a high school degree and those who have a bachelor's degree or higher. The following table shows the sample statistics of the two groups. You hypothesize that in general those who have a bachelor's degree or higher should earn more than those who have a high school degree. The estimated standard error is $360. Education Group 1 High school Group 2 BA or higher Sample size 361 169 mean $19,500 $20,500 st.dev $3,800 $3,900
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