A Random Sample of 30 Executives from Companies with Assets

question 40

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 those with an 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:

Duty

A legal or moral obligation required to be fulfilled by an individual or organization.

Miles to the Gallon

A measure of a vehicle's fuel efficiency, indicating how many miles the vehicle can travel on one gallon of fuel.

Correct Figure

Accurate numerical representation or data that correctly reflects a specified measurement, value, or calculation.

Valid Contract

An agreement between two or more parties that is enforceable by law, containing all necessary elements like offer, acceptance, consideration, and legality of purpose.