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ou may want to use the Excel Two Means Calculator found in the Course to complete this problem. An economist wants to perform a hypothesis test to compare the mean salaries of faculty in private nstitutions and public institutions. ndependent simple random samples of 15 faculty members in private institutions and 15 faculty mem n public institutions yielded the data in the table below. Sample Size Private 15 Public 15

ou may want to use the Excel Two Means Calculator found in the Course to complete this problem. An economist wants to perform a hypothesis test to compare the mean salaries of faculty in private nstitutions and public institutions. ndependent simple random samples of 15 faculty members in private institutions and 15 faculty mem n public institutions yielded the data in the table below. Sample Size Private 15 Public 15

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 19SGR
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I'm having issue with E because I don't know the p-value

You may want to use the Excel Two Means Calculator found in the Course to complete this problem. An economist wants to perform a hypothesis test to compare the mean salaries of faculty in private institutions and public institutions. Independent simple random samples of 15 faculty members in private institutions and 15 faculty members in public institutions yielded the data in the table below. You are encouraged to use Excel Calculators. a. Procedure: Sample Size Average ($1000) Standard Deviation ($1000) Et At 1% significance level, do the data provide sufficient evidence to conclude that the mean salaries for faculty in private institutions are greater than the mean salaries for faculty in public institutions? Matched Pairs (Paired) t test Two-Sample t test One-Sample t test b. Assumptions: (select everything that applies) 8 R % 5 Private X 15 97.6 12.84 Public 15 84.3 8.1 U 9 F10
Transcribed Image Text:You may want to use the Excel Two Means Calculator found in the Course to complete this problem. An economist wants to perform a hypothesis test to compare the mean salaries of faculty in private institutions and public institutions. Independent simple random samples of 15 faculty members in private institutions and 15 faculty members in public institutions yielded the data in the table below. You are encouraged to use Excel Calculators. a. Procedure: Sample Size Average ($1000) Standard Deviation ($1000) Et At 1% significance level, do the data provide sufficient evidence to conclude that the mean salaries for faculty in private institutions are greater than the mean salaries for faculty in public institutions? Matched Pairs (Paired) t test Two-Sample t test One-Sample t test b. Assumptions: (select everything that applies) 8 R % 5 Private X 15 97.6 12.84 Public 15 84.3 8.1 U 9 F10
b. Assumptions: (select everything that applies) Matched Pairs (or Paired) samples c. What is the claimed (or hypothesized) value in this test? 0 d. Is this a one-tail or two-tail test? one-tail two-tail of Sample sizes are both greater than 30 Population standard deviations are unknown and not assumed equal Independent two samples Population standard deviations are known Population standard deviations are unknown but can be assumed equal Simple random samples Populations have Normal distributions e. Compute the P-value of this test. (Round to 3 decimal places) P-value is 1 00 0.001 f. Is the P-value less than or equal to the significance level? yes 3 Hint: Double check if you selected the correct answer based on one-tail versus two-tail p-value. Round properly to 3 decimal places After rouding to 3 decimal places, if you answer has 0 after dot, then entre those too for the anwer. o have sufficient evidence to reject the null g. At 1% significance level we DO hypothesis in favor of the cliam that the mean salaries for faculty in private institutions are greater than the mean salaries for faculty in public institutions. Et 8 $ X OF % 5 X W
Transcribed Image Text:b. Assumptions: (select everything that applies) Matched Pairs (or Paired) samples c. What is the claimed (or hypothesized) value in this test? 0 d. Is this a one-tail or two-tail test? one-tail two-tail of Sample sizes are both greater than 30 Population standard deviations are unknown and not assumed equal Independent two samples Population standard deviations are known Population standard deviations are unknown but can be assumed equal Simple random samples Populations have Normal distributions e. Compute the P-value of this test. (Round to 3 decimal places) P-value is 1 00 0.001 f. Is the P-value less than or equal to the significance level? yes 3 Hint: Double check if you selected the correct answer based on one-tail versus two-tail p-value. Round properly to 3 decimal places After rouding to 3 decimal places, if you answer has 0 after dot, then entre those too for the anwer. o have sufficient evidence to reject the null g. At 1% significance level we DO hypothesis in favor of the cliam that the mean salaries for faculty in private institutions are greater than the mean salaries for faculty in public institutions. Et 8 $ X OF % 5 X W
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