Information regarding the starting salaries (in $1,000) of samples of students in four different majors is...

 

Transcribed Image Text:

Information regarding the starting salaries (in $1,000) of samples of students in four different majors is given below. Majors Management Finance Accounting Marketing 10 Sample size 12 9 14 Sample average 26 31 22 25 Sample variance 10 7 15 9 Question: Is there a significant difference in the means of the four populations? Assume a = 5%. 1. State the null and alternative hypotheses. 2. Compute the following quantities: X 26 nT SSE SSTR 408 410 3. Based on your answer in 2, complete the ANOVA table. Source of Sum of Degrees of Mean F p-value Variation Squares Freedom Squares Between groups 408 Within groups 410 Total 4. What is your conclusion at 5% significance level? 5. Additional exercise: Is there a difference between the average starting salary of marketing majors and that of the finance majors? a = 5%. Ho: H₂: Test statistic: Degrees of freedom: Critical value: Rejection region: Statistical conclusion: Information regarding the starting salaries (in $1,000) of samples of students in four different majors is given below. Majors Management Finance Accounting Marketing 10 Sample size 12 9 14 Sample average 26 31 22 25 Sample variance 10 7 15 9 Question: Is there a significant difference in the means of the four populations? Assume a = 5%. 1. State the null and alternative hypotheses. 2. Compute the following quantities: X 26 nT SSE SSTR 408 410 3. Based on your answer in 2, complete the ANOVA table. Source of Sum of Degrees of Mean F p-value Variation Squares Freedom Squares Between groups 408 Within groups 410 Total 4. What is your conclusion at 5% significance level? 5. Additional exercise: Is there a difference between the average starting salary of marketing majors and that of the finance majors? a = 5%. Ho: H₂: Test statistic: Degrees of freedom: Critical value: Rejection region: Statistical conclusion:

Answer rating: 100% (QA)

Solution J Null hypothesis there is no significant difference in the means ... View the full answer