Data Were Collected from CEOs in the Consumer Products Industry $X =$

question 99

Multiple Choice

Data were collected from CEOs in the consumer products industry and CEOs in the telecommunication industry. The data were analyzed using a software package in order to compare mean salaries of CEOs in the two industries.

HYPOTHESIS: MEAN X = MEAN Y
SAMPLES SELECTED FROM SALARY
$X =$ Consumer Products
$Y =$ Telecommunications

SAMPLE MEAN OF $X = 1761$
SAMPLE VARIANCE OF $X = 3.97555$ E6
SAMPLE SIZE OF X $= 21$


SAMPLE MEAN OF $Y = 1093.5$
SAMPLE VARIANCE OF $Y = 103255$
SAMPLE SIZE OF $\mathrm { Y } = \quad 21$
MEAN X - MEAN Y $= \quad 667.5$
test statistic $= \quad 1.47809$
D. F. $= 40$
$\mathrm { P } - \mathrm { VALUE } = \quad 0.147626$
P-VALUE $/ 2 = 0.0738131$
SD. ERROR $= \quad 451.597$
Find the p-value for testing a two-tailed alternative hypothesis.

• A) 0.0738131
• B) 0.9261869
• C) 0.295252
• D) 0.147626

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Definitions:

Annual Installments

Payments made yearly towards the settlement of a debt or purchase price over a fixed period.

Interest

Interest is the charge for borrowing money or the compensation paid to depositors, calculated as a percentage of the principal amount.

Compounded Monthly

A method of calculating interest in which the accrued interest is added to the principal at the end of each month, leading to interest on interest in subsequent months.

Mortgage

A loan provided by a lender or a bank that enables an individual to purchase a home or real estate, using the property itself as collateral.