MBA salaries. The starting salaries of MBA graduates who majored in finance were compared to the starting salaries of MBA graduates who majored in marketing. It was reported that a significant difference existed between the two majors and that finance majors attract higher salaries than marketing majors.

a) What does “statistically significant” mean in this context?

b) If this conclusion is incorrect, which type of error was committed?

c) Does this prove that MBA graduates with marketing majors will attract lower starting salaries?