Independent Random Samples Taken at Two Companies Provided the Following

question 79

Short Answer

Independent random samples taken at two companies provided the following information regarding annual salaries of the employees.
$\begin{array}{lll}&\text { Company A }&\text { Company B }\\\text { Sample Size } & 72 & 50 \\\text { Sample Mean in } \$ 1,000) & 48 & 43 \\\text { Population Standard Deviation in } \$ 1,000) & 12 & 10\end{array}$
a. We want to determine whether or not there is a significant difference between the average salaries of the employees at the two companies. Compute the test statistic.
b. Compute the p-value; and at 95% confidence, test the hypotheses.

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Definitions:

Unguaranteed Residual Value

The estimated future value of an asset at the end of its lease term that is not guaranteed by the lessee or a third party.

Lease Obligation

A financial commitment to make future payments under a lease agreement.

Sales-leaseback Transaction

A financial arrangement where one sells an asset and immediately leases it back from the buyer, effectively freeing up cash while retaining the use of the asset.

Seller-lessee

In a sale-leaseback transaction, the original owner who sells an asset and then leases it back from the new owner, retaining possession and use of the asset.