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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 = 0.05. Which of the following represents the result of the test on a difference in the variances?
Standard Deviation
A measure of the dispersion or variability within a dataset, indicating how spread out the values are from the mean.
Coefficient Of Variation
A consistent way to quantify the variability of a probability or frequency distribution, represented as a proportion of the mean.
Range
The gap between the maximum and minimum numbers within a dataset.
College Student
An individual who is enrolled in and attending courses at a college or university.
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