SOLUTION: Is the mean salary of accountants who have reached partnership status higher than that for accountants who are not partners? A sample of 15 accountants who have the partnership s

Question 327052: Is the mean salary of accountants who have reached partnership status higher than that for accountants who are not partners? A sample of 15 accountants who have the partnership status showed a mean salary of $82,000 with a standard deviation of $5,500. A sample of 12 accountants who were not partners showed a mean of $78,000 with a standard deviation of $6,500. At the 0.05 significance level can we conclude that accountants at the partnership level earn larger salaries
a. State the null and alternate hypotheses.
b. State the decision rule.
c. Compute the value of the test statistic.
d. Compute the p-value.
e. What is your decision regarding the null hypothesis? Thanks
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Is the mean salary of accountants who have reached partnership status higher than that for accountants who are not partners?
-----------------------
A sample of 15 accountants who have the partnership status showed a mean salary of $82,000 with a standard deviation of $5,500.
-----------------------
A sample of 12 accountants who were not partners showed a mean of $78,000 with a standard deviation of $6,500.
-----------------------
At the 0.05 significance level can we conclude that accountants at the partnership level earn larger salaries
------------------------------------
a. State the null and alternate hypotheses.
Ho: u(part)-u(notpart) <= 0
Ha: u(part)-u(notpart) > 0
--------------------------------
b. State the decision rule.
c. Compute the value of the test statistic.
I ran a 2-SampleTtest and got t = 1.6998
--------------------------------------
d. Compute the p-value.
P(t > 1.6998 when df = 21) = 0.0520
-----------------------------------------
e. What is your decision regarding the null hypothesis?
Since the p-value is greater than 5%, fail to reject Ho.
=============================================
Cheers,
Stan H.
==================
RELATED QUESTIONS
Is the mean salary of accountants who have reached partnership status higher than that... (answered by stanbon)

Is the mean salary of accountants who have reached partnership status higher than that... (answered by stanbon)

The proportion of public accountants who have changed companies within the last three... (answered by stanbon)

a firm of chartered accountants has 2 vacancies for trainee students and is trying to... (answered by ikleyn)

If the salary for BBAs in marketing has a mean of $49,554 and standard deviation of... (answered by Theo,stanbon)

2)In a group of 20 adults, 4 out of 7 women and 2out of 13 men wear glasses. What is the... (answered by stanbon)

A study of iron deficiency among infants compared samples of infants following different... (answered by stanbon)

A large tire company has 225 employees. There are 4 times as many mechanics as... (answered by fractalier)