Data was collected from CEOs of companies within both the low-tech industry and the consumer products industry. The following printout compares the mean return-to-pay ratios between CEOs in the low tech industry with CEOs in the consumer products industry. HYPOTHESIS: MEAN X = MEAN Y SAMPLES SELECTED FROM RETURN
industry 1 (low tech) NUMBER )
industry (consumer products) (NUMBER
If we conclude that the mean return-to-pay ratios of the consumer products and low tech CEOs are equal when, in fact, a difference really does exist between the means, we would be making a __________.
A) Type II error
B) Type I error
C) Type III error
D) correct decision
Correct Answer:
Verified
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