Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ms. Lisa Monnin is the budget director for Nexus Media Inc. She would like to compare the daily travel expenses for the sales staff and

Ms. Lisa Monnin is the budget director for Nexus Media Inc. She would like to compare the daily travel expenses for the sales staff and the audit staff. She collected the following sample information.

Sales ($)

130

136

147

161

132

147

Audit($)

131

103

132

132

140

107

132

At the 0.05 significance level, can she conclude that the mean daily expenses are greater for the sales staff than the audit staff?

Click here for the Excel Data File

1.State the decision rule.(Round your answer to 3 decimal places.)

RejectH0ift>

2.Compute the pooled estimate of the population variance.(Round your answer to 2 decimal places.)

Pooled variance

3.Compute the test statistic.(Round your answer to 3 decimal places.)

Value of the test statistic

4.State your decision about the null hypothesis.

(Click to select)

Reject

Do not reject

H0: s a

5.Estimate thep-value.(Round your answers to 3 decimal places.)

p-value(Click to select)

between 0.05 and 0.1

between 0.01 and 0.025

less than 0.01

between 0.025 and 0.05

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to the Mathematics of Financial Derivatives

Authors: Ali Hirsa, Salih N. Neftci

3rd edition

012384682X, 978-0123846822

More Books

Students also viewed these Mathematics questions

Question

\f\f\f\f\f\f\f

Answered: 1 week ago