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StatHQuiz7F10 - You may write on sentence completely and...

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Statistics Quiz 7 It is due at the beginning of the period on Thurs. Nov 11. Annual surveys are conducted on college grads to determine the starting salary. In a Fall 2007 report the mean starting salary for accounting majors was $47,000 with a standard deviation of $2500 and the mean starting salary for Liberal Arts major was 33,000 with a standard of 3500. Assume that these statistics were based on a random sample of 100 grads from each major. With sample sizes this large you may use t* = 2. A) Write a sentence telling what μ 1 and μ 2 represents in the context of this problem.
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Unformatted text preview: You may write on sentence completely and “ditto” the other. B) Construct a 95% confidence interval for the difference between average starting salaries for accounting majors and liberal arts majors. C) Interpret the interval in part B by writing a sentence that describes which major has a higher starting salary and how much higher it is. D) Based on the interval in part B what would you decide about the null hypothesis that there is no difference in the average starting salaries for the two majors? Explain how you decide....
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