10.61 According to a Bureau of Labor Statistics report released on March 25, 2015, statisticians earn an average of $84,010 a year and accountants and auditors earn an average of $73,670 a year (www.bls gov). Suppose that these estimates are based on random samples of 2000 statisticians and 1800 accountants and auditors. Further assume that the sample standard deviations of the annual earnings of these two groups are $15,200 and $14,500, respectively, and the population standard deviations are unknown and unequal for the two groups a. Construct a 98% confidence interval for the difference in the mean annual earnings of the two groups, statisticians and accountants and auditors b. Using a 1% significance level, can you conclude that the aver- age annual earnings of statisticians is higher than that of accountants and auditors?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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10.61 According to a Bureau of Labor Statistics report released on
March 25, 2015, statisticians earn an average of $84,010 a year and
accountants and auditors earn an average of $73,670 a year (www.bls
gov). Suppose that these estimates are based on random samples of
2000 statisticians and 1800 accountants and auditors. Further assume
that the sample standard deviations of the annual earnings of these
two groups are $15,200 and $14,500, respectively, and the population
standard deviations are unknown and unequal for the two groups
a. Construct a 98% confidence interval for the difference in the
mean annual earnings of the two groups, statisticians and
accountants and auditors
b. Using a 1% significance level, can you conclude that the aver-
age annual earnings of statisticians is higher than that of
accountants and auditors?
Transcribed Image Text:10.61 According to a Bureau of Labor Statistics report released on March 25, 2015, statisticians earn an average of $84,010 a year and accountants and auditors earn an average of $73,670 a year (www.bls gov). Suppose that these estimates are based on random samples of 2000 statisticians and 1800 accountants and auditors. Further assume that the sample standard deviations of the annual earnings of these two groups are $15,200 and $14,500, respectively, and the population standard deviations are unknown and unequal for the two groups a. Construct a 98% confidence interval for the difference in the mean annual earnings of the two groups, statisticians and accountants and auditors b. Using a 1% significance level, can you conclude that the aver- age annual earnings of statisticians is higher than that of accountants and auditors?
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