Concept explainers
CareerBank.com annual salary survey. CareerBank.com conducts an annual salary survey of accounting, finance, and banking professionals. For one survey, data were collected for 2,800 responses submitted online by professionals across the country who voluntarily responded to CareerBank.com’s Web-based survey Salary comparisons were made by gender, education, and marital status. Some of the results are shown in the accompanying table.
Males | Females | |
$69,848 | $52,012 | |
Number of Respondents | 1,400 | 1,400 |
- a. Suppose you want to make an inference about the difference between the mean salaries of male and female accounting/finance/banking professionals at a 95% level of confidence. Why is this impossible to do using the information in the table?
- b. Give values of the missing standard deviations that would lead you to conclude that the mean salary for males is significantly higher than the mean salary for females at a 95% level of confidence.
- c. In your opinion, are the sample standard deviations, part b, reasonable values for the salary data? Explain.
- d. How does the data-collection method impact any inferences derived from the data?
Want to see the full answer?
Check out a sample textbook solutionChapter 8 Solutions
Statistics For Business And Economics Plus Mystatlab With Pearson Etext -- Access Card Package (13th Edition)
Additional Math Textbook Solutions
Elementary Statistics: A Step By Step Approach
Elementary Statistics: Picturing the World (6th Edition)
Business Statistics: A First Course (7th Edition)
Elementary Statistics: A Step By Step Approach
PRACTICE OF STATISTICS F/AP EXAM
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt