You are researching the income of a college graduate versus a high school graduate. A sample of
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Question:
You are researching the income of a college graduate versus a high school graduate. A sample of 50 was taken from the income population of college graduates with a population standard deviation of 120 and a sample average of 160.
A sample of 70 is taken from the income population of high school graduates with a standard deviation of 110 and a sample mean of 140. You test the hypothesis with a significance level of 0.03.
So:
A. Make a decision rule!
B. Test whether there is a difference in the mean value of college graduates' earnings with those of high school graduates?
Notes:
Create a complete procedure and use the correct formula.
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