Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You may need to use the appropriate technology to answer this question A loan administrator is examining the amount of student loan debt carried by
You may need to use the appropriate technology to answer this 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 psychiatrists, attorneys, and physicians in which the amount of student loan debt (in $1,0EIIJS) is reported. The administrator wants to test for differences in the mean student loan debt for the three professions. Psychiatrists Attorneys Physicians 149 151 184 131 121 219 119 136 196 179 161 179 144 111 178 (a) State the null and alternative hypotheses. 9 HI): \"Psychiatrists : \"Attorneys : \"PhysiClans Ha: At least two of the programs have different population mean production levels. ,\\ ' b Hu' \"Psychiatrists ' \"Attorneys ' \"Physicians Ha: \"Psychiatrists : \"Attorneys : \"Physicians 0 H0: At least two of the programs have different population mean production levels. Ha2 \"Psychiatrists : \"Attorneys : \"Physicians ,\\ ' (7/ \"0' \"Psychiatrists * \"Attorneys * \"Physicians Ha: At least two of the programs have different population mean production levels. \\ A , s ('1 Ht)' #PSYChlatl'iStS \"Attorneys #Physicxans Ha: "Psychiatrists * \"Attorneys 7 \"Physicians (h) Construct an ANDVA 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 | l l l E Between Treatments 2 Within Treatments |: :l :l (c) What is the conclusion? Use a 0.05 level of signicance. Use the p-value approach. (Round your p-value to three decimal places.) Since the p-value = is the signicance level, the p-value approach 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 a = 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. XPsychiatrists - *Attorneys = (Do not round your answer. ) X Psychiatrists - *Physicians = (Do not round your answer.) X Attorneys - XPhysicians = (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. O There are no significant differences
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started