Use the following information for the next 3 questions:
Suppose you want to test for whether there is a difference in starting salaries for those with a finance degree compared to those with an accounting degree. You sample 35 graduates with a finance degree and find the average starting salary to be 58,000 with a sample standard deviation of 5,000. You also take a sample of 40 graduates with an accounting degree and find the average starting salary 56,000 to be and a sample variance of 3000. Suppose you want to test the hypothesis that the starting salary for accounting degree graduates is less than that of finance degree graduates. (D=μaccounting−μfinance) Which of the following is the hypothesis test?
H0:D≥0;HA:D<0H0:D≥0;HA:D<0
H0:D≤0;HA:D>0H0:D≤0;HA:D>0
H0:D<0;HA:D<0
H0:D=0;HA:D≠0
Using the previous information, which of the following is the test statistic for the hypothesis test? Recall: D=μaccounting−μfinance
135.5
-2.13
-0.002
-2.06
Assume the test statistic found was 2.5, and the degrees of freedom found was 50. What is the critical value and outcome of the hypothesis test at the 1% significance level, if the hypothesis was found to be: H0:D=0;HA:D≠0
±±2.403; Fail to Reject the Null Hypothesis
±±2.678; Reject the Null Hypothesis
±±2.403; Reject the Null Hypothesis
±±2.678; Fail to Reject the Null Hypothesis
1. Since we want to test the hypothesis that the starting salary for accounting is greater than that of finance,
2. To calculate the test statistic, we need to compute the standard deviation:
Standard deviation of the joint sample:
Test statistic can be calculated as follows:
3. For a two tailed test, we find the t value corresponding to 50 degrees of freedom and 0.01 significance level. This value is 2.678. Since the calculated test statistic is less than the critical value, we fail to reject the null hypothesis.
Use the following information for the next 3 questions: Suppose you want to test for whether...
A random sample of 20 observations showed a standard deviation of 8. At 95% confidence, test to see if the variance of the population is significantly less than 65. State the null and alternative hypotheses. Select one: A. H0: 2 65 Ha: 2 > 65 B. H0: 2 65 Ha: 2 < 65 C. H0: 2 = 65 Ha: 2 65 D. None of the above answers is correct We were unable to transcribe this imageWe were unable to transcribe...
(6 pts) A psychologist who needs two groups of students for a learning experiment decides to select a random sample of female college students and male college students. Before the experiment, the psychologist administers an IQ test to both groups to determine if there is a significant difference in their mean IQ scores. The population standard deviation for this IQ test is know to be for both female and male populations. If the sample mean IQ score of the female...
We want to estimate the mean starting salary in a population of graduates. Approximately normally distributed. Standard deviation = 10 In a random sample of 31 graduates, the mean starting salary was 61.8 and the standard deviation was 12. 1. What is the lower (smaller) endpoint of the 90% confidence interval for the population mean? 2. What is the upper (larger) endpoint of the 90% confidence interval for the population mean? 3. If null hypothesis = 60 and alternate hypothesis...
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In order to conduct a hypothesis test for the population proportion, you sample 450 observations that result in 189 successes. (You may find it useful to reference the appropriate table: z table or t table) H0: p ≥ 0.45; HA: p < 0.45. a-1. Calculate the value of the test statistic. (Negative value should be indicated by a minus sign. Round intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) TEST STATISTIC = a-2....
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You are conducting a multinomial hypothesis test (αα = 0.05) for the claim that all 5 categories are equally likely to be selected. Category Observed Frequency A 20 B 15 C 15 D 12 E 18 What is the chi-square test-statistic for this data? χ2=χ2= What are the degrees of freedom for this test? d.f. = What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value = The p-value is... less than (or equal to)...
Given the following situation, H0: = 9, H1: > 9 (c) if the decision was to reject the null hypothesis, you would: A) reject the claim B) not reject the claim C) support the claim D) not support the claim We were unable to transcribe this imageWe were unable to transcribe this image
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 49.2 48.0 58.8 49.2 56.3 53.1 59.2 56.9 55.2 51.9 54.0 52.6 50.9 48.7 60.5 53.9 56.0 52.8 52.9 47.9 (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...