Suppose the Graduate Management Admission Council (GMAC) would like to determine if the median starting salary for MBA students graduating from two year programs is different than the median starting salary for MBA students graduating from one year programs. A random sample of graduating students from both types of MBA programs was collected, and the starting salaries, in thousands of dollars, were recorded and are as follows. These data can also be found in the Excel file GMAC.xlsx.
Using α = 0.05, perform a hypothesis test to determine if the median starting salary for MBA students graduating from two year programs was different than it was for MBA students graduating from one year programs.
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