SCENARIO 10-15 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. Test whether the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning assuming that the two population variances are the same.
-Referring to Scenario 10-15, suppose = 0.01.Which of the following represents the correct conclusion?
A)There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is not higher than that of financial Planning
B)There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is not higher than that of financial Planning.
C)There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning.
D)There is enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning.

Question

SCENARIO 10-15 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.  Test whether the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning assuming that the two population variances are the same.
-Referring to Scenario 10-15, suppose  = 0.01.Which of the following represents the correct conclusion?
A)There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is not higher than that of financial Planning 
B)There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is not higher than that of financial Planning. 
C)There is not enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning. 
D)There is enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning.

Quizplus · Accepted Answer

With a p-value of 0.01, which is less than the standard level of significance of 0.05, we reject the null hypothesis that the mean starting annual salaries for individuals entering the public accounting professions is not higher than that of financial planning. Therefore, we can conclude that there is enough evidence that the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning. A hypothesis test was conducted to compare the mean starting annual salaries for individuals entering the public accounting and financial planning professions. The null hypothesis was that the mean starting annual salaries for both professions are the same, while the alternative hypothesis was that the mean starting annual salary for public accounting professions is higher than that of financial planning.

Since the p-value (11ebc114_1272_ebcf_8acb_9d02cc99e464_TB8562_11 = 0.01) is less than the significance level of 0.05, we reject the null hypothesis in favor of the alternative hypothesis. Therefore, there is enough evidence to suggest that the mean starting annual salaries for individuals entering the public accounting professions are higher than that of financial planning.

SCENARIO 10-15 the Table Below Presents the Summary Statistics for the Starting