The Committee of 200, a professional organization of preeminent women entrepreneurs and corporate leaders, reported the following: 60% of women MBA students say, “Businesses pay their executives too much money” and 50% of the men MBA students agreed.
a. Does there appear to be a difference in the proportion of women and men who say, “Executives are paid too much”? Explain the meaning of your answer.
b. If the preceding percentages resulted from two samples of size 20 each, is the difference statistically significant at a 0.05 level of significance? Justify your answer.
c. If the preceding percentages resulted from two samples of size 500 each, is the difference statistically significant at a 0.05 level of significance? Justify your answer.
d. Explain how your answers to parts b and c affect your thoughts about your answer to part a.