Using the ROI data set:1. For Business versus Engineering majors conduct a two sample test of the hypothesis at the 10% significance level (assume the variances are not equal):2. The average ’30-Year ROI’ for Business majors is less than for Engineering Majors. Be sure to interpret your results. Engineering MajorBusiness MajorSchool TypeCost30 Year ROIAnnual ROISchool TypeCost30 Year ROIAnnual ROIPrivate$221,700.00$2,412,000.008.70%Private$222,700.00$1,786,000.007.70%$213,000.00$2,064,000.00$176,400.00$1,758,000.00$1,714,000.00Private8.30%Private8.40%Private$230,100.00$1,949,000.007.90%Private$212,200.007.80%$22,600.00$1,947,000.008.00%Public$125,100.00$212,700.00Private$1,535,000.009.10%Private$225,800.00$1,938,000.008.00%Private$1,529,000.007.40%Public$87,660.00$1,937,000.0011.20%Public$92,910.00$1,501,000.0010.10%$224,900.00$1,915,000.007.90%$214,900.00$217,800.00PrivatePrivate$1,485,000.007.30%Private$221,600.00$1,878,000.007.90%$1,483,000.007.20%PrivatePublic$125,100.00$1,854,000.009.80%Private$225,600.00$1,444,000.007.00%$215,700.00$1,794,000.007.90%$217,300.00$1,442,000.00$1,441,000.00PrivatePrivate7.10%Public$92,530.00$1,761,000.0010.60%Private$226,500.007.00%Private$217,800.00$1,752,000.007.70%Private$215,500.00$1,438,000.007.20%Public$89,700.00$1,727,000.0010.70%Private$223,500.00$1,428,000.007.00%Private$229,600.00$1,716,000.007.50%Private$226,600.00$1,414,000.007.00%Public$101,500.00$1,703,000.0010.20%Private$189,300.00$1,397,000.007.50%$115,500.009.70%$89,700.00$1,382,000.00PublicPublicPublic$1,694,000.009.90%Public$104,500.00$1,690,000.0010.10%$87,030.00$1,376,000.0010.00%Public$69,980.00$219,400.00$1,685,000.0011.50%$218,200.00$1,343,000.00$1,339,000.00Private6.90%Private$1,676,000.007.60%Private$229,900.006.70%Public$64,930.00$1,668,000.0011.70%Private$148,800.00$1,321,000.008.10%

Name: Using the ROI data set:1. For Business versus Engineering majors condu
Uploaded: 2024-03-20T07:06:16.000Z
Channel: Bartleby
Description: Using the ROI data set:1. For Business versus Engineering majors conduct a two sample test of the hypothesis at the 10% significance level (assume the variances are not equal):2. The average ’30-Year ROI’ for Business majors is less than for Engineer

The business major is taken as group 1. The engineering major is taken as group 2. Given: The 30 year ROI of business and Engineering majors. n1=20n2=20α=0.10using the excel formula "=AVERAGE(A2:A21)" sample mean of business major x¯1=1477800 using the excel formula "=AVERAGE(B2:B21)" sample mean of engineering major x¯2=1838000 using the excel formula "=STDEV.S(A2:A21)" sample standard deviation of business major s1=132943.4 using the excel formula "=STDEV.S(B2:B21)" sample standard deviation of engineering major s2=179798.7179 Hypothesis H0: μ1=μ2 H0: The average ’30-Yr ROI’ for Business majors is equal to the Engineering Majors. H1: μ1<μ2 H1: The average ’30-Year ROI’ for Business majors is less than for Engineering Majors. Degrees of freedom DF=((s21/n1)+(s22/n2))2(s21/n1)2n1+1+(s22/n2)2n2+1-2=((132943.42/20)+(179798.71792/20))2(132943.42/20)220+1+(179798.71792/20)220+1-2=34.9≅35 Test statistic t=x¯1-x¯2s21n1+s22n2=1477800-1838000132943.4220+179798.7179220=-7.204 Test statistic=-7.204 using the excel formula "=T.DIST(-7.204,35,TRUE)" p-value is approximately zero.Decision rule: If the p-value is greater than the significance level, there is no evidence to reject the null hypothesis. If the p-value is lesser than the significance level, the hypothesis is rejected. Conclusion: The p-value (0) is less than the significance (0.10) Thus, the null hypothesis is rejected Interpretation There is sufficient evidence to show that the average ’30-Year ROI’ for Business majors is less than for Engineering Majors.