SCENARIO 10-15 the Table Below Presents the Summary Statistics for the Starting

question 164

Multiple Choice

SCENARIO 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. 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 Scenario 10-15, suppose = 0.10.Which of the following represents the correct conclusion?

• A)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
• 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:

z

In statistics, often refers to a z-score, which measures the number of standard deviations a data point is from the mean of a distribution.

Standard Normal Random Variable

A random variable with a mean of zero and a standard deviation of one, following a normal distribution.

Probability

A numeric scale between 0 and 1 that quantifies how likely an event is to take place.

z

In statistics, 'z' typically refers to a z-score, a measure of how many standard deviations an element is from the mean.