A Career Counselor Is Comparing the Annual Salary of Executives

question 6

Essay

A career counselor is comparing the annual salary of executives in the manufacturing, finance, and engineering industries. The following table shows the sample size for each industry and the rank sum for the Kruskal-Wallis test. a. Specify the competing hypotheses to determine whether differences exist in the median annual salary of the three industries.
B) What is the value of the Kruskal-Wallis test statistic H?
C) At the 5% significance level, what is the decision and conclusion?

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Definitions:

Internal Control Problems

Issues or weaknesses in a company's processes that threaten its ability to ensure accurate financial reporting, compliance with laws, and effective and efficient operations.

Internal Control Principle

A fundamental concept in accounting and auditing that refers to the processes, procedures, and measures a company puts in place to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.

Bank Reconciliation

Bank Reconciliation is the process of matching and comparing an organization’s financial records against the bank statements to ensure accuracy and consistency in the accounts.

NSF Check

A cheque that has been returned by a bank because the account it was drawn on did not have sufficient funds.