The known standard deviation in salary for all mid-level professionals in the financial industry is ($11,000). Company
Question:
The known standard deviation in salary for all mid-level professionals in the financial industry is \($11,000\). Company A and Company B are in the financial industry. Suppose samples are taken of mid-level professionals from Company A and from Company B. The sample mean salary for mid-level professionals in Company A is \($80,000\). The sample mean salary for mid-level professionals in Company B is \($96,000\). Company A and Company B management want to know if their midlevel professionals are paid differently, on average.
Indicate if the hypothesis test is for
a. independent group means, population standard deviations, and/or variances known
b. independent group means, population standard deviations, and/or variances unknown
c. matched or paired samples
d. single mean
e. two proportions
f. single proportion
Step by Step Answer:
Introductory Business Statistics
ISBN: 202318
1st Edition
Authors: Alexander Holmes , Barbara Illowsky , Susan Dean