TABLE 10-15 The Table Below Presents the Summary Statistics for the Starting

question 162

Short Answer

TABLE 10-15
The table below presents the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions.
Sample I (public accounting): ₁ = 60.35, S₁ = 3.25, n₁ = 12
Sample II (financial planning): ₂ = 58.20, S₂ = 2.48, n₂ = 14
Test whether the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning assuming that the two population variances are the same.
-Referring to Table 10-15, what is the value of the test statistic for testing whether there is evidence of a difference in the variances?

---

Definitions:

Taxes

Obligatory charges imposed by the government on the earnings of employees, profits of companies, or included in the prices of various goods, services, and transactions.

Income Tax

A tax levied by governments on individuals or entities based on their income or profits.

Taxable Income

The amount of income subject to taxes, after deductions and exemptions, according to the tax laws governing the taxpayer.

Tax Rate

The percentage at which an individual or corporation is taxed by the government on income, property, or sales.