Question

Below are the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions. If the level of significance is 0.05, what is the value of the test statistic for testing whether there is evidence of differences in the variances? Sample 1 (public accounting) xbar = 60.35 S = 3.25 n = 12

Sample 2 (fin. planning) xbar = 58.20 S = 2.48

Answer #1

The table below presents the summary statistics for the starting
annual salaries (in thousands of dollars) for individuals entering
the public accounting and financial planning professions.
Sample I (public accounting): X?1 = 60.35, 3.25
S1 = 3.25, n1 = 12 n
Sample II (financial planning): X?2 = 58.20, 2.48
S2 = 2.48, n2 = 14 n
Test whether the mean starting annual salaries for individuals
entering the public accounting professions is higher than that of
financial planning assuming that...

Samples of starting annual salaries for individuals entering the
public accounting and financial planning professions follow. Annual
salaries are shown in thousands of dollars.
Public
Accountant
Financial
Planner
50.2
49.0
59.8
50.2
57.3
54.1
57.2
56.9
53.2
50.9
55.0
52.6
51.9
50.7
59.5
54.9
58.0
52.8
52.9
49.9
(a)
Use a 0.05 level of significance and test the hypothesis that
there is no difference between the starting annual salaries of
public accountants and financial planners.
State the null and alternative...

Samples of starting annual salaries for individuals entering the
public accounting and financial planning professions follow. Annual
salaries are shown in thousands of dollars.
Public
Accountant
Financial
Planner
50.2
49.0
59.8
50.2
57.3
54.1
57.2
56.9
53.2
50.9
55.0
52.6
51.9
50.7
59.5
54.9
58.0
52.8
52.9
49.9
(a)
Use a 0.05 level of significance and test the hypothesis that
there is no difference between the starting annual salaries of
public accountants and financial planners.
State the null and alternative...

On the basis of data provided by a salary survey, the variance
in annual salaries for seniors in public accounting firms is
approximately 2.1 and the variance in annual salaries for managers
in public accounting firms is approximately 11.1. The salary data
were provided in thousands of dollars. Assuming that the salary
data were based on samples of 25 seniorsand 26 managers, test to
determine whether there is a significant difference between the
variances of salaries for seniors and managers....

Let x represent the average annual salary of college
and university professors (in thousands of dollars) in the United
States. For all colleges and universities in the United States, the
population variance of x is approximately
σ2 = 47.1. However, a random sample of 18
colleges and universities in Kansas showed that x has a
sample variance s2 = 78.4. Use a 5% level of
significance to test the claim that the variance for colleges and
universities in Kansas is...

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