Question
Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class: Finance Majors Business Analytics Majors
Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class:
Finance Majors | Business Analytics Majors |
---|---|
n1 = 140 | n2 = 30 |
x1 = $48,137 | x2 = $55,417 |
s1 = $19,000 | s2 = $10,000 |
(a)
Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use = 0.05. (Let 1 = the population mean salary for Finance majors, and let 2 = the population mean salary for Business Analytics majors. Enter != for as needed.)
H0:
Ha:
(b)
What is the value of the test statistic? (Use
1 2.
Round your answer to three decimal places.)
(c)
What is the p-value? (Round your answer to four decimal places.)
p-value =
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