A Psychologist Has Performed the Following Experiment Can She Infer at the 5% Significance Level That There

question 43

Essay

A psychologist has performed the following experiment. For each of 10 sets of identical twins who were born 30 years ago, she recorded their annual incomes according to which twin was born first. The results (in $000) are shown below. $$\begin{array} { | c | c | c | } \hline \text { Twin set } & \text { First born } & \text { Second born } \\\hline 1 & 32 & 44 \\\hline 2 & 36 & 43 \\\hline 3 & 21 & 28 \\\hline 4 & 30 & 39 \\\hline 5 & 49 & 51 \\\hline 6 & 27 & 25 \\\hline 7 & 39 & 32 \\\hline 8 & 38 & 42 \\\hline 9 & 56 & 64 \\\hline 10 & 44 & 44 \\\hline\end{array}$$ Can she infer at the 5% significance level that there is a difference in income between the twins?

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Definitions:

Battle of the Forms

A legal concept involving conflicts between differing terms in contracts, typically in commercial transactions.

Acceptance

In contract law, acceptance refers to the agreement by the party to whom an offer has been made to the terms of the offer, resulting in a legally binding contract.

Mailbox Rule

A legal doctrine stating that an offer is considered accepted at the time the acceptance is sent via the mail or other delivery method.

Risk

In law and business, risk refers to the exposure to potential loss or damage arising from various factors like legal liabilities or financial transactions.