Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class:### Salary Data- **Finance Majors** - Sample size ($ n_1 $): 120 - Mean salary ($ \bar{x}_1 $): $48,137 - Standard deviation ($ s_1 $): $19,000- **Business Analytics Majors** - Sample size ($ n_2 $): 30 - Mean salary ($ \bar{x}_2 $): $55,417 - Standard deviation ($ s_2 $): $10,000### Hypothesis Testing(a) **Formulate Hypotheses**Null Hypothesis ($ H_0 $): Alternative Hypothesis ($ H_a $): [if rejected, conclude salaries for Finance majors are significantly lower than Business Analytics majors. Use $\alpha = 0.05$](b) **What is the value of the test statistic?** - Use $\mu_1 - \mu_2$. - Round your answer to three decimal places.(c) **What is the p-value?** - Round your answer to four decimal places.(d) **Conclusion**Options:- Reject $ H_0 $: Conclude salaries for Finance majors are significantly lower than Business Analytics majors.- Do not reject $ H_0 $: We cannot conclude salaries for Finance majors are significantly lower than Business Analytics majors.Choose the appropriate conclusion based on the test results.

(a) The hypotheses are given below: Null hypothesis: H0:μ1=μ2 Alternative hypothesis: Ha:μ1<μ2…

Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating dass: Finance Majors Business Analytics Majors 120 n2 = = 30 x, = $48,137 X2 = $55,417 %3D s= $19,000 s, = $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 = the population mean salary for Finance majors, and let µ, = the population mean salary for Business Analytics majors. Enter != for # as needed.) 0.05. (Let %3D

Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating dass: Finance Majors Business Analytics Majors 120 n2 = = 30 x, = $48,137 X2 = $55,417 %3D s= $19,000 s, = $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 = the population mean salary for Finance majors, and let µ, = the population mean salary for Business Analytics majors. Enter != for # as needed.) 0.05. (Let %3D

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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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 n = 140 n2 = 30 X, = $48,137 X2 = $55,417 s1 = $19,000 s, = $10,000 (a) Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly tower than the salaries of Business Analytics majors. Use a = 0.05. (Let µ, = the population mean salary for Finance majors, and let u, = the population mean salary for Business Analytics majors. Enter != for # as needed.) Ho
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 = 140 n2 = 30 x1 = $48,137 x2 = $55,417 s1 = $19,000 s2 = $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 ? = 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.) H0: μ1≥μ2 Ha: μ1<μ2 (b) What is the value of the test statistic? (Use ?1 − ?2. Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) p-value =
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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 = 140 n2 = 30 X1 = $48,137 X2 = $55,217 S1 $19,000 S2 $10,000 %3D (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 = 0.05. (Let µ, = the population mean salary for Finance majors, and let u, = the population mean salary for Business Analytics majors. Enter != for + as needed.) Ho: Ha: (b) What is the value of the test statistic? (Use u, uz. Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) p-value %3D
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