Below are the summary statistics for the starting annual salaries (in thousands of dollars) for individuals...

Below are the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions. If the level of significance is 0.05, is there sufficient evidence that the mean starting annual salaries for those entering public accounting are higher than the mean starting salaries for those entering financial planning? YES or NO?

Sample 1 (public accounting) xbar = 60.35 S = 3.25 n = 12

Sample 2 (fin. planning) xbar = 58.20 S = 2.48

Solutions

Expert Solution

Here we have second sample have sample size not given, so we assume both have same sample size = 12

Final conclusion: Correct option "Yes"

There is sufficient evidence that the mean starting anual salaries for those entering public accounting are higher than mean strating salaries for those entering financial planning.

orchestra answered 1 year ago

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