Answered: Salary 2010 ($) 37,000 61,000 35,000…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Recent evidence suggests that graduating from college during bad economic times can impact the graduate's earning power for a long time (Financial Times, June 1, 2012). An associate dean at a prestigious college wants to determine if the starting salary of his college graduates has declined from 2008 to 2010. He expects the variance of the salaries to be different between these two years. The data are shown in the accompanying table and are contained in the accompanying Excel file. (You may find it useful to reference the appropriate table: z table or t table)

Let Sample 1 be the sample of the starting salary of college graduates in 2008 and Sample 2 be the sample of the starting salary of college graduates in 2010.

a. Specify the competing hypotheses that determine whether the starting salary of college graduates has declined from 2008 to 2010.

(Which one is correct)

H₀: μ₁ − μ₂ = 0; H_A: μ₁ − μ₂ ≠ 0
H₀: μ₁ − μ₂ ≥ 0; H_A: μ₁ − μ₂ < 0
H₀: μ₁ − μ₂ ≤ 0; H_A: μ₁ − μ₂ > 0

b. Find the p-value.

p-value ≥ 0.10
0.05 ≤p-value < 0.10
0.025 ≤ p-value < 0.05
0.01 ≤ p-value < 0.025
p-value < 0.01

c. At the 5% significance level, have salaries gone down from 2008 to 2010?

(Which one is correct)

Reject H₀; there is evidence that the starting salary of college graduates has declined from 2008 to 2010.
Reject H₀; there is not sufficient evidence that the starting salary of college graduates has declined from 2008 to 2010.
Do not reject H₀; there is evidence that the starting salary of college graduates has declined from 2008 to 2010.
Do not reject H₀; there is not sufficient evidence that the starting salary of college graduates has declined from 2008 to 2010.

Salary 2010
($)
37,000
61,000
35,000
41,000
73,000
34,000
41,000
71,000
65,000
40,000
70,000
21,000
34,000
56,000
53,000
8,000
36,000
71,000
42,000
27,000
Salary 2008
($)
52,000
44,000
31,000
51,000
55,000
40,000
28,000
55,000
59,000
37,000
61,000
38,000
52,000
49,000
50,000
59,000
55,000
61,000
48,000
46,000
Salary 2010
($)
52,000
35,000
50,000
64,000
68,000
53,000
61,000
41,000
63,000
48,000
45,000
46,000
29,000
46,000
53,000
16,000
40,000
48,000
52,000
56,000
Salary 2008
($)
35,000
56,000
53,000
52,000
50,000
46,000
60,000
45,000
50,000
43,000
66,000
52,000
39,000
47,000
39,000
41,000
58,000
42,000
56,000
52,000

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