Question
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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