Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class: Finance Majors Business Analytics Majors n₁ = 120 n₂ = 30 x₁ = $48,437 x₂ = $55,417 $₁= $19,000 $2= $10,000 (a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use a = 0.05. (Let #₁ = the population mean salary for Finance majors, and let #₂ = the population mean salary for Business Analytics majors. Enter != for as needed.) Ho: H: ul-u20 ul < u2 x 66°F Mostly sunny X (b) What is the value of the test statistic? (Use #₁ - #₂. Round your answer to three decimal places.) -1.943 x (c) What is the p-value? (Round your answer to four decimal places.) p-value=9973 x (d) What is your conclusion? O Reject Ho. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Finance majors are significantly lower than the salaries of Business Analytics O Do not reject Ho. We cannot conclude that salaries majors. O Do not reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. E delete A D 5:38 PM 10/9/2022
Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class: Finance Majors Business Analytics Majors n₁ = 120 n₂ = 30 x₁ = $48,437 x₂ = $55,417 $₁= $19,000 $2= $10,000 (a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use a = 0.05. (Let #₁ = the population mean salary for Finance majors, and let #₂ = the population mean salary for Business Analytics majors. Enter != for as needed.) Ho: H: ul-u20 ul < u2 x 66°F Mostly sunny X (b) What is the value of the test statistic? (Use #₁ - #₂. Round your answer to three decimal places.) -1.943 x (c) What is the p-value? (Round your answer to four decimal places.) p-value=9973 x (d) What is your conclusion? O Reject Ho. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Finance majors are significantly lower than the salaries of Business Analytics O Do not reject Ho. We cannot conclude that salaries majors. O Do not reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. E delete A D 5:38 PM 10/9/2022
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Transcribed Image Text:esc
Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class:
Ho:
1
Ha
Finance Majors Business Analytics Majors
72 = 30
X2 = $55,417
$2 = $10,000
(a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use a = 0.05. (Let μ₁ = the
population mean salary for Finance majors, and let μ₂ = the population mean salary for Business Analytics majors. Enter != for # as needed.)
ul-u2 ≤0
66°F
Mostly sunny
?
7₁ =
= 120
51 = $19,000
=
= $48,437
ul < u2
(b) What is the value of the test statistic? (Use µ₁ −µ2. Round your answer to three decimal places.)
-
-1.943
X
12
(c) What is the p-value? (Round your answer to four decimal places.)
p-value = .9973
x
(d) What is your conclusion?
Reject Ho. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
O Do not reject Ho. We cannot conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics
majors.
Business Analytics majors.
Do not reject Ho. We can conclude that salaries for Finance majors are significantly lower than the salaries
Reject Ho
We can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors.
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5:38 PM
10/9/2022
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