=+28. IT training costs. An accounting firm is trying to decide between IT training conducted in-house and
Question:
=+28. 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 M13_SHAR8696_03_SE_C13.indd 455 14/07/14 7:30 AM 456 CHAPTER 13 Comparing Two Means 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.
IT Training n Mean SD In-House 210 $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 m1 - m2 ≠ 0 t-Statistic = -2.38 w/303 df P = .018
c) State a conclusion about IT training costs.
Step by Step Answer:
Business Statistics Plus Pearson Mylab Statistics With Pearson Etext
ISBN: 978-1292243726
3rd Edition
Authors: Norean R Sharpe ,Richard D De Veaux ,Paul Velleman