A University Wanted to See Whether There Was a Significant

question 98

Essay

A university wanted to see whether there was a significant difference in age between its day staff and evening staff. A random sample of 35 staff members is selected from each group. The data are given below. Test the hypothesis that there is no difference in age between the two groups. Use α =0.05 .
$\begin{array} { l l l l l l l l l l l l } 22 & 24 & 24 & 23 & 19 & 19 & 23 & 22 & 18 & 21 & 21 & 18 \\18 & 25 & 29 & 24 & 23 & 22 & 22 & 21 & 20 & 20 & 20 & 27 \\17 & 19 & 18 & 21 & 20 & 23 & 26 & 30 & 25 & 21 & 25 &\end{array}$
$\begin{array} { l l l l l l l l l l l l } 18 & 23 & 25 & 23 & 21 & 21 & 23 & 24 & 27 & 31 & 24 & 20 \\20 & 23 & 19 & 25 & 24 & 27 & 23 & 20 & 20 & 21 & 25 & 24 \\23 & 28 & 20 & 19 & 23 & 24 & 20 & 27 & 21 & 29 & 30 &\end{array}$

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Definitions:

Investment Guaranteed

A financial product promising the return of the principal amount plus predetermined earnings, minimizing risk for the investor.

Investment Value

The worth of an asset or security at a specific point in time, taking into account factors such as market conditions and risk.

Interest Earned

The amount of money earned over a period of time through investments or savings that accrue interest.

Simple Interest Rate

This rate calculates interest payments only on the initial amount of money (the principal), not on the interest accrued over time.