Instruction 10-2
a Researcher Randomly Sampled 30 Graduates of an MBA

question 143

Short Answer

Instruction 10-2
A researcher randomly sampled 30 graduates of an MBA program and recorded data concerning their starting salaries. Of primary interest to the researcher was the effect of gender on starting salaries. The result of the pooled-variance t test of the mean salaries of the females (Population 1) and males (Population 2) in the sample is given below.
$\begin{array}{|l|r|}\hline \text { Hypothesised Difference } & 0 \\\hline \text {Level of Significance } & 0.05 \\\hline \text { Population 1 Sample } &\\\hline \text { Sample Size } & 18 \\\hline \text { Sample Mean } & 48266.7 \\\hline \text { Sample Standard Deviation } & 13577.63 \\\hline \text { Population 2 Sample } &\\\hline \text { Sample Size } & 12 \\\hline \text { Sample Mean } & 55000 \\\hline \text { Sample StandardDeviation } & 11741.29 \\\hline \text { Differencein Sample Means } & -6733.3 \\\hline t \text {-Test Statistic } & -1.40193\\\hline \text {Lower-Tail Test } & \\\hline \text {Lower Critical Value }& -1.70113 \\\hline \text {p-Value }& 0.085962\\\hline \end{array}$
-Referring to Instruction 10-2,what is the 99% confidence interval estimate for the difference between two means?

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Definitions:

Averaging

The process of calculating the mean value of a set of numbers, which is often used to find a central tendency or to simplify complex data.

Advertising Research

The study of techniques and strategies used in advertising to evaluate its effectiveness and to understand consumer responses.

Middle Values

In statistics and data analysis, these refer to values that fall in the middle range of a data set, often used in the context of median or mean calculations.

Recall Test

A method used in memory research where participants are asked to remember and reproduce information that was previously presented to them.