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b) What are the sample median annual salaries (in $) for the two professions? sample median = $ 56,100 Public Accountants Financial Planners sample median = $ 54,350 X X

b) What are the sample median annual salaries (in $) for the two professions? sample median = $ 56,100 Public Accountants Financial Planners sample median = $ 54,350 X X

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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What is your conclusion? O Do not reject Ho. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. O Do not reject Ho. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. O Reject H. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. Reject Ho. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. (b) What are the sample median annual salaries (in $) for the two professions? Public Accountants Financial Planners sample median = $ 56,100 sample median $ 54,350 X X
Transcribed Image Text:What is your conclusion? O Do not reject Ho. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. O Do not reject Ho. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. O Reject H. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. Reject Ho. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners. (b) What are the sample median annual salaries (in $) for the two professions? Public Accountants Financial Planners sample median = $ 56,100 sample median $ 54,350 X X
Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars. Public Accountant 51.2 59.8 56.3 58.2 55.2 56.0 51.9 60.5 57.0 50.9 Financial Planner 50.0 49.2 54.1 56.9 Find the value of the test statistic. W = 137.5 50.9 53.6 49.7 53.9 51.8 48.9 (a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners. State the null and alternative hypotheses. O Ho: The two populations of salaries are not identical. H₂: The two populations of salaries are identical. O Ho: Median salary for public accountants - Median salary for financial planners 20 H₂: Median salary for public accountants - Median salary for financial planners < 0 O Ho: Median salary for public accountants - Median salary for financial planners ≤ 0 H₂: Median salary for public accountants - Median salary for financial planners > 0 O Ho: Median salary for public accountants - Median salary for financial planners > 0 H₂: Median salary for public accountants - Median salary for financial planners = 0 ⒸH: The two populations of salaries are identical. H₂: The two populations of salaries are not identical. Find the p-value. (Round your answer to four decimal places.) p-value = 0.0156
Transcribed Image Text:Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars. Public Accountant 51.2 59.8 56.3 58.2 55.2 56.0 51.9 60.5 57.0 50.9 Financial Planner 50.0 49.2 54.1 56.9 Find the value of the test statistic. W = 137.5 50.9 53.6 49.7 53.9 51.8 48.9 (a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners. State the null and alternative hypotheses. O Ho: The two populations of salaries are not identical. H₂: The two populations of salaries are identical. O Ho: Median salary for public accountants - Median salary for financial planners 20 H₂: Median salary for public accountants - Median salary for financial planners < 0 O Ho: Median salary for public accountants - Median salary for financial planners ≤ 0 H₂: Median salary for public accountants - Median salary for financial planners > 0 O Ho: Median salary for public accountants - Median salary for financial planners > 0 H₂: Median salary for public accountants - Median salary for financial planners = 0 ⒸH: The two populations of salaries are identical. H₂: The two populations of salaries are not identical. Find the p-value. (Round your answer to four decimal places.) p-value = 0.0156
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