Problem # 1 UCF College of Business obtained the following results from two independent random samples on the salaries of a recent graduating class: Sample Economics (1) Majors Sample Marketing (2) Majors Sample Size Economics Majors =36 Sample Size Marketing Majors =50 Mean Sample Economics = $51,230 Mean Sample Marketing =$49,300 Standard Deviation Sample Economics =$900 Standard Deviation Sample Marketing =$1,200 Managerial Report Prepare a managerial report that addresses the following issues: 1. What is the degrees of freedom for the t distribution (round the answer to the previous whole number)? Why is the t distribution appropriate in this situation? Show steps 2. What is the 95% confidence interval for the difference between the two population means (to 1 decimal and enter any negative values as a negative number)? Show steps H : P1 - Pa = 0 H : - H2 +0 3. At 95% does there appear to be any difference in the mean job offer for these two groups? Which method are you using (Show Steps)? Please explain in detai!

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question
Problem # 1
UCF College of Business obtained the following results from two independent random samples on the salaries of a recent graduating class:
Sample Economics (1) Majors
Sample Marketing (2) Majors
Sample Size Economics Majors =36
Sample Size Marketing Majors =50
Mean Sample Economics = $51,230
Mean Sample Marketing =$49,300
Standard Deviation Sample Economics =$900
Standard Deviation Sample Marketing =$1,200
Managerial Report
Prepare a managerial report that addresses the following issues:
1. What is the degrees of freedom for the t distribution (round the answer to the previous whole number)? Why is the t distribution appropriate in this situation? Show steps
2. What is the 95% confidence interval for the difference between the two population means (to 1 decimal and enter any negative values as a negative number)? Show steps
Họ : 41 - H2 = 0
H : 41 – 42 + 0
3. At 95% does there appear to be any difference in the mean job offer for these two groups?
Which method are you using (Show Steps)? Please explain in detail
Transcribed Image Text:Problem # 1 UCF College of Business obtained the following results from two independent random samples on the salaries of a recent graduating class: Sample Economics (1) Majors Sample Marketing (2) Majors Sample Size Economics Majors =36 Sample Size Marketing Majors =50 Mean Sample Economics = $51,230 Mean Sample Marketing =$49,300 Standard Deviation Sample Economics =$900 Standard Deviation Sample Marketing =$1,200 Managerial Report Prepare a managerial report that addresses the following issues: 1. What is the degrees of freedom for the t distribution (round the answer to the previous whole number)? Why is the t distribution appropriate in this situation? Show steps 2. What is the 95% confidence interval for the difference between the two population means (to 1 decimal and enter any negative values as a negative number)? Show steps Họ : 41 - H2 = 0 H : 41 – 42 + 0 3. At 95% does there appear to be any difference in the mean job offer for these two groups? Which method are you using (Show Steps)? Please explain in detail
Expert Solution
steps

Step by step

Solved in 3 steps with 4 images

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman