6. The National Association of Colleges and Employers compiled information about annual starting salaries for college graduates
Question:
6. The National Association of Colleges and Employers compiled information about annual starting salaries for college graduates by major. The mean starting salary for business administration graduates was $39,850 (CNNMoney.com, February 15, 2006). Samples with annual starting data for marketing majors and accounting majors follow (data are in thousands):
Marketing Majors 34.2 45.0 39.5 28.4 37.7 35.8 30.6 35.2 34.2 42.4 Accounting Majors 33.5 57.1 49.7 40.2 44.2 45.2 47.8 38.0 53.9 41.1 41.7 40.8 55.5 43.5 49.1 49.9
a. Compute the mean, median, and mode of the annual starting salary for both majors.
b. Compute the first and third quartiles for both majors.
c. Business administration students with accounting majors generally obtain the highest annual salary after graduation. What do the sample data indicate about the difference between the annual starting salaries for marketing and accounting majors?
Step by Step Answer:
Essentials Of Statistics For Business And Economics
ISBN: 9780324568608
5th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams