Data Was Collected from CEOs of Companies Within Both the Low-Tech

question 55

Multiple Choice

Data was collected from CEOs of companies within both the low-tech industry and the consumer products industry. The following printout compares the mean return-to-pay ratios between CEOs in the low-tech industry with CEOs in the consumer products industry.

$\text { HYPOTHESIS: MEAN X = MEAN Y }$

$\text {SAMPLES SELECTED FROM RETURN}$
$\begin{array}{lll}\text { industry } 1 & \text { (low tech) } & \text { (NUMBER = 15) } \\\text { industry } 3 & \text { (consumer products) } & \text { (NUMBER = 15) }\end{array}$

$\begin{array}{rl}\text {X} =& \text {industry 1}\\\text { Y} =&\text {ndustry3}\\\\\text { SAMPLE MEAN OF X }=&157.286 \\\text { SAMPLE VARIANCE OF } X=&1563.45\\ \text { SAMPLE SIZE OF } X=&14 \\\text { SAMPLE MEAN OF } \mathrm{Y}=&217.583\\ \text { SAMPLE VARIANCE OF} Y=&1601.54 \\ \text { SAMPLE SIZE OF}Y=&12 \\\\\text { MEAN X - MEAN Y }=&-60.2976 \\\text {t}=&-4.23468 \\\mathrm{P}-\mathrm{VALUE}=&0.000290753 \\\text { P-VALUE } / 2=&0.000145377 \\\mathrm{SD}, \mathrm{ERROR}=&14.239 \\\end{array}$


Using the printout, which of the following assumptions is not necessary for the test to be valid?

• A) The population variances are equal.
• B) The samples were randomly and independently selected.
• C) The population means are equal.
• D) Both populations have approximately normal distributions.

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Definitions:

μ ≠ 5

A statistical notation indicating the population mean (μ) is not equal to 5.

≠ Symbol

A mathematical symbol denoting inequality, signifying that two values or expressions are not equal.

Directional

Hypotheses that predict the nature of the effect of one variable on another, specifying a direction of influence.

μ > 8

This inequality states that the population mean (μ) is greater than 8.