A comparison of salaries at comparable institutions in two states was undertaken to examine if states...

A comparison of salaries at comparable institutions in two states was undertaken to examine if states pay professors similarly. Professors in each institution were selected and then matched on the basis of gender, length of service with the institution, number of publications, number of grants obtained, and average student evaluations. The data are as follows.

Pair State "T" State "G" Pair State "T" State "G"

1 38,432 42,134 6 39,232 42,143

2 47,984 49,243 7 48,394 50,003

3 58,423 63,243 8 51,248 53,381

4 35,345 36,454 9 64,458 68,454

5 43,214 44,365 10 42,345 43,294

What is the null hypothesis?
What is the alternative hypothesis?
What test statistic will you use? Why?
What alpha level will you set?
What is the average salary for each state?
What is the value of the test statistic?
What is the p-value?
What is your decision about the null hypothesis?
What is your interpretation of the results? (2-3 sentences; 2pts).

Expert Solution

orchestra answered 1 year ago

Discuss the “Comparison” or “Comparable” type of approach to value property and what type of property?

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