A Random Sample of 30 Executives from Companies with Assets

question 80

Multiple Choice

A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education. The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The Mean Square Error (MSE) was 243.7. The following table summarized the results: When comparing the mean annual incomes for executives with a High School education or less and Undergraduate Degree, the 95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that

• A) There is no significant difference between the two incomes.
• B) The interval contains a difference of zero.
• C) Executives with an Undergraduate Degree earn significantly more than executives with a High School education or less.
• D) Executives with an Undergraduate Degree earn significantly less than executives with a High School education or less.

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Definitions:

Female Group

A specific cohort or assembly consisting exclusively of female participants or subjects.

Simple Random Sample

A method of sampling where each member of the population has an equal chance of being selected.

Wilcoxon Signed Rank Test

A non-parametric test used to compare two related samples, matched samples, or repeated measurements on a single sample to assess whether their population mean ranks differ.

Absolute Difference

The non-negative difference between two values, disregarding the direction of difference.