Mathematics, 14.06.2021 18:00 Kaitneedshelps
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 = $48,237 x2 = $55,417
s1 = $19,000 s2 = $10,000
Required:
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 α = 0.05. (Let μ1 = the population mean salary for Finance majors, and let μ2 = the population mean salary for Business Analytics majors.
b. What is the value of the test statistic?
c. What is the p-value? (Round your answer to four decimal places.)
d. What is your conclusion?
Answers: 3
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Suppose a certain state university's college of business obtained the following results on the salar...
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