SOLUTION: One reads that a business school graduate with an undergraduate degree earns more than a high school graduate with no additional education, and a person with a master�s degree or a

Question 503587: One reads that a business school graduate with an undergraduate degree earns more than a high school graduate with no additional education, and a person with a master�s degree or a doctorate earns even more. To test this, a random sample of 25 executives from companies with assets over $1 million was selected. Their incomes, classified by highest level of education, follow.

Income (in thousands)

High School
Undergraduate
Master's Degree

or less
degree
or higher

45
49
51

47
57
73

53
85
82

62
73
59

39
81
94

43
84
89

54
89
89

92
95

62
73

Here are the results of the one factor ANOVA. First, identify the null and alternative hypotheses for the test. Second, explain whether you reject or do not reject the null hypothesis. Does earning a degree matter? Explain.

One factor ANOVA

Mean
n
Std. Dev

HS
49.0
7
7.81
Group 1
HS or less

68.8
74.7
9
15.31
Group 2
Undergrad degree

68.8
78.3
9
15.58
Group 3
Master's degree or higher

68.8
25
18.32
Total

ANOVA table

Source
SS
df
MS
F
p-value

Treatment
3,872.00
2
1,936.000
10.18
.0007

Error
4,182.00
22
190.091

Total
8,054.00
24

Answer by xdragonfight(116) (Show Source): You can put this solution on YOUR website!
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