Question

UCF College of Business obtained the following results from two independent random samples on the salaries of a recent graduating class:

Sample Economics (1) Majors	Sample Marketing (2) Majors
Sample Size Economics Majors =36	Sample Size Marketing Majors =54
Mean Sample Economics = $51,230	Mean Sample Marketing =$49,300
Standard Deviation Sample Economics =$1,035	Standard Deviation Sample Marketing =$1,450

Managerial Report

Prepare a managerial report that addresses the following issues:

1. What is the degrees of freedom for the t distribution (round the answer to the previous whole number)? Why is the t distribution appropriate in this situation? Show steps (25pts)
2. What is the 95% confidence interval for the difference between the two population means (to 1 decimal and enter any negative values as a negative number)? Show steps (25pts)
3. At 95% does there appear to be any difference in the mean job offer for these two groups?   Which method are you using (Show Steps)? Please explain in detail

Answer 1

this is a two tailed test and acceptance region for null hypothesis lies within under standard normal curve

since calculated value of z does not falls in acceptance region, we reject null hypothesis at 5% level of significance