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The Tippie College of Business obtained the following results on the salaries of a recent graduating class: Finance Majors Business Analytics Majors n1=140 n2=20 x1=$48,514

The Tippie College of Business obtained the following results on the salaries of a recent graduating class:

Finance Majors Business Analytics Majors
n1=140 n2=20
x1=$48,514 x2=$56,674
s1=$19,500 s2=$12,000

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 alpha = 0.05.

Ho: M1 - M2 _____________ 0
ha: M1 - M2 _____________ 0

b. What is the value of the test statistic? Enter negative value as a negative number, if any.

(rounded to decimals)

c. What is the p-value?

df = (rounded down to nearest whole number)

p-value = (rounded to 3 decimals)

d. What is your conclusion?

We - Select your answer -conclude OR cannot conclude Item 6 that the salaries of Finance majors are lower than the salaries of Business Analytics majors.

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