Question 6 A survey of newly graduated accounting and marketing students were studied. A random sample of 40 new accountants and a random sample of 50 new marketing executive were selected in Singapore. Accountants have a mean of $3500 per month and marketing executives have a mean of $3200. The population standard deviation of accountants and marketing executives are $500 and $450 per month respectively. (a) (b) Apply a suitable hypothesis test with a = 0.05 to determine if there a difference between the monthly salaries of the accountants and marketing executives. Is the difference of $300 between accountants and marketing executives due to chance?

MATLAB: An Introduction with Applications
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Question 6
A survey of newly graduated accounting and marketing students were studied. A random
sample of 40 new accountants and a random sample of 50 new marketing executive were
selected in Singapore. Accountants have a mean of $3500 per month and marketing
executives have a mean of $3200. The population standard deviation of accountants and
marketing executives are $500 and $450 per month respectively.
(a)
Apply a suitable hypothesis test with a = 0.05 to determine if there a difference between
the monthly salaries of the accountants and marketing executives.
(b)
Is the difference of $300 between accountants and marketing executives due to chance?
Transcribed Image Text:Question 6 A survey of newly graduated accounting and marketing students were studied. A random sample of 40 new accountants and a random sample of 50 new marketing executive were selected in Singapore. Accountants have a mean of $3500 per month and marketing executives have a mean of $3200. The population standard deviation of accountants and marketing executives are $500 and $450 per month respectively. (a) Apply a suitable hypothesis test with a = 0.05 to determine if there a difference between the monthly salaries of the accountants and marketing executives. (b) Is the difference of $300 between accountants and marketing executives due to chance?
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