30. IT training costs. An accounting firm is trying to decide between IT training conducted in-house and the use of third party consultants. To get some preliminary cost data, each type of training was implemented at two of the firm’s offices located in different cities. The table below shows the average annual training cost per employee at each location.

Are the mean costs significantly different? Assume that the assumptions for inference are satisfied.

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IT Training n Mean SD In-House 210 $490.00 $490.00 $32.00 Consultants 180 $500.00 $48.00 a) Write the appropriate hypotheses. b) Below is computer output for this hypothesis test. Explain what the P-value means in this context. 2-Sample t-Test of 20 t-Statistic -2.38 w/303df P = .018 = c) State a conclusion about IT training costs.