Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars. Public Accountant 51.2 59.8 56.3 58.2 55.2 56.0 51.9 60.5 57.0 Financial Planner tione 50.0 49.2 54.1 56.9 50.9 53.6 49.7 53.9 51.8 50.9 (a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners. State the null and alternative hypotheses. JOH 48.9 Lideatioal

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Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars.
Public Accountant
51.2
59.8
56.3
58.2
55.2
56.0
51.9
60.5
57.0
50.9
Financial Planner
50.0
49.2
54.1
56.9
50.9
Find the value of the test statistic.
W = 18
x
53.6
49.7
53.9
51.8
48.9
(a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners.
State the null and alternative hypotheses.
O Ho: The two populations of salaries are not identical.
H₂: The two populations of salaries are identical.
O Ho: Median salary for public accountants - Median salary for financial planners 20
H₂: Median salary for public accountants - Median salary for financial planners < 0
O Ho: Median salary for public accountants - Median salary for financial planners ≤ 0
H.₂: Median salary for public accountants - Median salary for financial planners > 0
O Ho: Median salary for public accountants - Median salary for financial planners > 0
H₂: Median salary for public accountants - Median salary for financial planners = 0
ⒸH: The two populations of salaries are identical.
H₂: The two populations of salaries are not identical.
Find the p-value. (Round your answer to four decimal places.)
p-value = 0.0090
X
Transcribed Image Text:Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars. Public Accountant 51.2 59.8 56.3 58.2 55.2 56.0 51.9 60.5 57.0 50.9 Financial Planner 50.0 49.2 54.1 56.9 50.9 Find the value of the test statistic. W = 18 x 53.6 49.7 53.9 51.8 48.9 (a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners. State the null and alternative hypotheses. O Ho: The two populations of salaries are not identical. H₂: The two populations of salaries are identical. O Ho: Median salary for public accountants - Median salary for financial planners 20 H₂: Median salary for public accountants - Median salary for financial planners < 0 O Ho: Median salary for public accountants - Median salary for financial planners ≤ 0 H.₂: Median salary for public accountants - Median salary for financial planners > 0 O Ho: Median salary for public accountants - Median salary for financial planners > 0 H₂: Median salary for public accountants - Median salary for financial planners = 0 ⒸH: The two populations of salaries are identical. H₂: The two populations of salaries are not identical. Find the p-value. (Round your answer to four decimal places.) p-value = 0.0090 X
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