An analyst is to conduct a study to compare the average annual salary of financial managers in2021 (₁) and the average annual salary of accountants in 2021 (µ₂), both with over 5 years ofexperience. It is expected that µ₁ < µ₂. In addition to the random sample of annual salaries ofmanagers in 2021 mentioned above, another random sample of 42 annual salaries of accountantsin 2021 is selected. The mean and standard deviation of this sample are found to be 41,050 EURand 560 EUR respectively.The analyst is to perform a t-test to test whether the expectation is met. But she has noinformation on the two population variances. So she first performs an F-test at a significancelevel of 5% to determine if the two population variances are equal, assuming that bothpopulations are normal.Question 10:In the F-test, what is the test statistic?Question 11:Find the rejection region in the F-test.Question 12:What are the conclusions?Question 13:The analyst then performs an appropriate t-test at a significance level of 5% to test the claimM₁ M₂. What is the test statistic?Question 14:What is the rejection region in the t-test?Question 15:What are the conclusions?~End of Assignment 2~ The average annual salary of financial managers in Paris in 2020 with over 5 years of experiencewas estimated to be 40,250 EUR; the standard deviation of the annual salaries was about 650EUR. Suppose those annual salaries are normally distributed.A hypothesis test is conducted at a significance level of 5% to test if the average annual salary offinancial managers with over 5 years of experience in 2021 is higher than that of 2020. Assumethat those salaries are normally distributed. A random sample of 64 managers in 2021 is selected;their annual salaries are found to have a mean of 40,425 EUR and a standard deviation of 520EUR.Question 1:Assume that the population standard deviation of the annual salaries in 2021 is about the same asthat of 2020. Find the test statistic.Question 2:Based on the assumption in Question 1 above, find the rejection region.Question 3:Based on the assumption in Question 1, find the p-value.Question 4:What are the conclusions?Question 5:The assumption made in Question 1 is perhaps not reasonable. Find the test statistic again,assuming that the population standard deviations of the two years are different.Question 6:Find the rejection region again based on the new assumption made in Question 5.It is also found in the above sample that about 23.5% of the managers receive annual bonus. Ahypothesis test at a = 2.5% is then conducted to test if less than 25% of the managers in 2021receive annual bonus.Question 7:Find the test statistic.Question 8:Find the rejection region.Question 9:What are the conclusions?

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Answered: The average annual salary of financial…

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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