Independent random samples of business managers and college economics faculty were asked to respond on a scale from 1 (strongly disagree) to 7 (strongly agree) to this statement: Grades in advanced economics are good indicators of students’ analytical skills. For a sample of 70 business managers, the mean response was 4.4 and the sample standard deviation was 1.3. For a sample of 106 economics faculty the mean response was 5.3 and the sample standard deviation was 1.4.a. Test, at the 5% level, the null hypothesis that the population mean response for business managers would be at most 4.0.b. Test, at the 5% level, the null hypothesis that the population means are equal against the alternative that the population mean response is higher for economics faculty than for business managers.
Independent random samples of business managers and college economics faculty were asked to respond on a scale from 1 (strongly disagree) to 7 (strongly agree) to this statement: Grades in advanced economics are good indicators of students’ analytical skills. For a sample of 70 business managers, the mean response was 4.4 and the sample standard deviation was 1.3. For a sample of 106 economics faculty the mean response was 5.3 and the sample standard deviation was 1.4.
a. Test, at the 5% level, the null hypothesis that the population mean response for business managers would be at most 4.0.
b. Test, at the 5% level, the null hypothesis that the population means are equal against the alternative that the population mean response is higher for economics faculty than for business managers.
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