Question

Technology     Financial Institutions

298                              582

356                              813

432                              847

442                              868

436                              955

578                              988

646                              1051

627                              1065

b. assuming that the population variances are not equal.

Determine the hypotheses. Choose the correct answer below.

A.    Upper H 0H0 : mu 1 equals mu 2μ1=μ2

Upper H 1H1 :mu 1 not equals mu 2μ1≠μ2

B.    Upper H 0H0 :mu 1 less than or equals mu 2μ1≤μ2

Upper H 1H1 :mu 1 greater than mu 2μ1>μ2

C.    Upper H 0H0 :mu 1 greater than or equals mu 2μ1≥μ2

Upper H 1H1 :mu 1 less than mu 2μ1<μ2

D.    Upper H 0H0 :mu 1 not equals mu 2μ1≠μ2

Upper H 1H1 :mu 1 equals mu 2μ1=μ2

Find the test statistic.

(Round to two decimal places as needed.)

Find the p-value.

(Round to three decimal places as needed.)

Answer 1

The statistical software output for this problem is:

Two sample T hypothesis test:
μ₁ : Mean of Technology
μ₂ : Mean of Financial Institutions
μ₁ - μ₂ : Difference between two means
H₀ : μ₁ - μ₂ = 0
H_A : μ₁ - μ₂ ≠ 0
(without pooled variances)

Hypothesis test results:

Difference	Sample Diff.	Std. Err.	DF	T-Stat	P-value
μ1 - μ2	-419.25	71.47374	13.403954	-5.8657907	<0.0001

Hence,

Hypotheses:

H₀ : μ₁ = μ₂
H_A : μ₁ ≠ μ₂

Test statistic = -5.87

p - value = 0.000