In: Statistics and Probability
25 New York Yankees players from the Major League Baseball, 2016 season, were asked about their salaries. They were further classified into pitchers and non-pitchers and the following data on their wages were obtained:
14 pitchers with sample mean = 8,592,211 and sample standard deviation = 8,869,873
11 non-pitchers with sample mean = 8,335,158 and sample standard deviation = 8,969,283
Assume that the population deviations are the same.
to. Considering a significance level of 0.01, can it be concluded that the mean wages between pitchers and non-pitchers are the same? Specify the null and alternative hypothesis as well as the test statistic.
b. Calculate the p-value of the test and conclude in the context of the problem.
c. Determine what type of error is made.
d. Build a confidence interval for the 99% wage difference.