Consider the Following Set of Salary Data Suppose the Test Statistic Turned Out to Be

question 23

Multiple Choice

Consider the following set of salary data: $\begin{array}{lrr}\hline & \text { Men (1) } & \text { Women (2) } \\\hline \text { Sample Size } & 100 & 80 \\\text { Mean } & \$ 12,850 & \$ 13,000 \\\text { Standard Deviation } & \$ 345 & \$ 500 \\\hline\end{array}$

Suppose the test statistic turned out to be $z = - 1.20$ (not the correct value) . Find a two-tailed $p$ -value for this test statistic.

• A) .6151
• B). 3849
• C). 1151
• D) .2302

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Definitions:

Present Value

The here and now worth of a future financial sum or cash inflow sequences, discounted at a defined rate of return.

Growing Annuity

A series of regular payments that grow at a consistent rate over time, commonly used in retirement and investment calculations.

Rate of Return

Earnings or losses seen on an investment during a fixed interval, presented as a percentage of the investment's first cost.

Compounded Monthly

Indicates that interest is calculated and added to the principal balance of an investment or loan on a monthly basis, leading to exponential growth over time.