Question
A loan administrator is examining the amount of student loan debt carried by graduates with different degrees. Suppose we have the following data collected from
A loan administrator is examining the amount of student loan debt carried by graduates with different degrees. Suppose we have the following data collected from psychiatrists, attorneys, and physicians in which the amount of student loan debt (in $1,000s) is reported. The administrator wants to test for differences in the mean student loan debt for the three professions.
Psychiatrists | Attorneys | Physicians |
---|---|---|
151 | 151 | 184 |
129 | 121 | 221 |
121 | 136 | 196 |
179 | 161 | 181 |
146 | 111 | 176 |
(a)State the null and alternative hypotheses.H0: At least two of the programs have different population mean production levels. Ha:Psychiatrists=Attorneys=PhysiciansH0:PsychiatristsAttorneysPhysicians Ha:Psychiatrists=Attorneys=Physicians H0:Psychiatrists=Attorneys=Physicians Ha:PsychiatristsAttorneysPhysiciansH0:Psychiatrists=Attorneys=Physicians Ha: At least two of the programs have different population mean production levels.H0:PsychiatristsAttorneysPhysicians Ha: At least two of the programs have different population mean production levels.(b)Construct an ANOVA table.(Round the sum of squares and mean square values to the the nearest whole number. Round the F-value to one decimal place.)
Source of Variation | Sum of Squares | Degrees of Freedom | Mean Square | F |
---|---|---|---|---|
Between Treatments | ||||
Within Treatments | ||||
Total |
(c)What is the conclusion? Use a 0.05 level of significance. Use thep-value approach.(Round yourp-valueto three decimal places.)Since thep-value = is ---Select--- greater than less than the significance level, thep-value approach ---Select--- does not suggest suggests a significant difference among the mean student loan debt between among the three professions.(b)Use Fisher's LSD procedure to determine which population (if any) is different from the others. (Use= 0.05.)Find the value of LSD. (Do NOT use the Bonferroni adjustment.)LSD = (Round your answer to 2 decimal places.)Find the pairwise absolute difference between sample means for each pair of treatments.
xPsychiatristsxAttorneys
= (Do not round your answer.)
xPsychiatristsxPhysicians
= (Do not round your answer.)
xAttorneysxPhysicians
= (Do not round your answer.)Where do the significant differences occur? (Select all that apply.)There is a significant difference in the mean student loan debt between psychiatrists and attorneys.There is a significant difference in the mean student loan debt between psychiatrists and physicians.There is a significant difference in the mean student loan debt between attorneys and physicians.There are no significant differences.
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