Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual
Question:
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 | Financial Planner |
---|---|
66.2 | 63.0 |
74.8 | 65.2 |
70.3 | 67.1 |
72.2 | 69.9 |
68.2 | 65.9 |
69.0 | 67.6 |
66.9 | 65.7 |
75.5 | 69.9 |
71.0 | 67.8 |
65.9 | 64.9 |
(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.H0: Median salary for public accountants Median salary for financial planners > 0 Ha: Median salary for public accountants Median salary for financial planners = 0H0: Median salary for public accountants Median salary for financial planners 0 Ha: Median salary for public accountants Median salary for financial planners < 0 H0: Median salary for public accountants Median salary for financial planners 0 Ha: Median salary for public accountants Median salary for financial planners > 0H0: The two populations of salaries are not identical. Ha: The two populations of salaries are identical.H0: The two populations of salaries are identical. Ha: The two populations of salaries are not identical.Find the value of the test statistic.W =-----? Find the p-value.-----? (Round your answer to four decimal places.)p-value = What is your conclusion?Reject H0. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners.Do not reject H0. 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 H0. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners.Do not reject H0. 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 $)---------? for the two professions?Public Accountantssample median=$ Financial Plannerssample median=$---------?