The Tippie College of Business obtained the following results on the salaries of a recent graduating class:
Finance Majors
$n_1$ = 90
$\bar{x}_1$ = $47,917
$s_1$ = $18,500
Business Analytics Majors
$n_2$ = 35
$\bar{x}_2$ = $55,517
$s_2$ = $14,500
a. Formulate hypotheses so that, if the null hypothesis is rejected, we can conclude that salaries for Finance majors are significantly lower than the salaries of Business Analytics majors. Use $\alpha$ = 0.05.
$H_o: \mu_1 - \mu_2$
- Select your answer - 0
$H_a: \mu_1 - \mu_2$
- Select your answer - 0
b. What is the value of the test statistic? Enter negative value as a negative number, if any.
(rounded to 2 decimals)
c. What is the p-value?
$df$ =
(rounded down to nearest whole number)
$p-value$ =
(rounded to 3 decimals)
d. What is your conclusion?
We - Select your answer - that the salaries of Finance majors are lower than the salaries of Business Analytics majors.
