TABLE 10-15 The Table Below Presents the Summary Statistics for the Starting

question 24

Multiple Choice

TABLE 10-15
The table below presents the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions.
Sample I (public accounting) : ₁ = 60.35, S₁ = 3.25, n₁ = 12
Sample II (financial planning) : ₂ = 58.20, S₂ = 2.48, n₂ = 14
Test whether the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning assuming that the two population variances are the same.
-Referring to Table 10-15, suppose α = 0.10. Which of the following represents the correct conclusion?

• A) There is not enough evidence that the mean starting annual salaries for individuals exsiting the public accounting professions is not higher than that of financial planning.
• B) There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is not higher than that of financial planning.
• C) There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning.
• D) There is enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning.

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Definitions:

Normally Distributed Curves

Graphical representations of a normal distribution, showing how data points are symmetrically distributed around the mean.

Mean

A statistical measure representing the average value in a set of numbers, calculated by dividing the sum of all values by the number of values.

Median

The middle value in a list of numbers, which divides the dataset into two halves.

Mode

The value that occurs most frequently in a given set of data.