The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. It is an attractive alternative to getting an MBA for students wanting a career in investment. A student of finance is curious to know if a CFA designation is a more lucrative option than an MBA. He collects data on 50 recent CFAs with a mean salary of $140,000 and a standard deviation of $52.000. A sample of 80 MBAS results in a mean salary of $131,000 with a standard deviation of $14,000. Assume that p, is the population mean for individuals with a CFA designation and p, is the population mean of individuals with MBAS (You may find it useful to reference the appropriate table: 2table or table) a. Set up the hypotheses to test if a CFA designation is more lucrative than an MBA at the 10% significance level. O Ho: M1-H2=0, HAM1-42*0 Ho: M1-220 HA H1-H2<0 OHO: M1-H250, HAM-M20 b-1. Calculate the value of the t places.) Test statistic tistic. Do not assume that the population variances are equal. (Round final answer to 3 decimal

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