MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Suppose a certain state university's college of business obtained the following results on the salaries of a recent graduating class:
| Finance Majors | Business Analytics Majors |
|---|---|
|
n1 = 140
|
n2 = 30
|
|
x1 = $48,137
|
x2 = $55,417
|
|
s1 = $19,000
|
s2 = $10,000
|
(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 ? = 0.05. (Let ?1 = the population mean salary for Finance majors, and let ?2 = the population mean salary for Business Analytics majors. Enter != for ≠ as needed.)
H0:
Ha:
μ1≥μ2
μ1<μ2
(b)
What is the value of the test statistic? (Use ?1 − ?2. Round your answer to three decimal places.)
(c)
What is the p-value? (Round your answer to four decimal places.)
p-value =
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