The Question Below Refers to the Following

question 37

Essay

The question below refers to the following:
The administration at a university is interested in studying if any relationship exists between satisfaction at the school and whether the student is a freshman or a senior. The school randomly surveys 10 freshmen and 10 seniors and asks them to rate how satisfied they are at the school on a scale of 1-10, where 10 is extremely satisfied and 1 is extremely dissatisfied. Here is the collected data:
Are the results significant? Why or why not?

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Definitions:

Lease Payments

Regular payments made by a lessee to a lessor for the use of a leased asset over an agreed period.

Capital Cost

The one-time expenditure on physical assets such as buildings, machinery, and equipment, not to be confused with operational or day-to-day expenses.

Ordinary Annuity

An annuity in which the payments are made at the end of each period, such as monthly or annually.

Financial Calculator

A tool used to perform financial functions and calculations, including interest rates, loan payments, investment values, and more.