The table below contains the amount of money owed by four students upon graduation: a biology major
Question:
The table below contains the amount of money owed by four students upon graduation: a biology major from each of two universities, and an English major from each of the same two universities. Use these data to assess the validity of the idea that biology majors owe more at graduation than English majors. Answer the questions that follow as you go.
1. What is/are the population(s) of interest? Think carefully and be as specific as possible!
2. What are the research and null hypotheses?
3. What is/are the sample(s)?
4. What is the comparison distribution a distribution of?
5. What are the properties of the comparison distribution?
6. What is/are the critical value(s) of the test?
7. What is the value of the test statistic?
8. What conclusion should the researcher draw?
9. These samples notwithstanding, assume there was actually no difference between the average amounts owed by biology and English majors. What would the probability be that a random sample of 2 English majors and 2 biology majors (one each from each of two universities, as above) would show a mean difference as large the one reported above? You will have to provide a range.
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton