A Random Sample of 30 Executives from Companies with Assets

question 78

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

---

Definitions:

Numerical Answer

A Numerical Answer is a solution to a problem or question that is expressed in numbers or quantities.

Simulation Model

A computational model used to simulate the behavior of real-world systems or processes for analysis or decision-making.

Queuing Models

Queuing Models are mathematical theories and equations used to predict and analyze the behavior of waiting lines (queues) in various service or production settings, helping to improve efficiency.

Service Distributions

The channels through which services are delivered to customers, involving the physical or digital means by which services are provided.