The Dean of the Business School at State University would like to test the hypothesis that no difference exists between the average final exam grades for the Introduction to Marketing course and the Introduction to Finance course. A random sample of eight students who took both courses was selected and their final exam grades for each course are shown below.
If Population 1 is defined as the Marketing exam scores and Population 2 is defined as the Finance exam scores, and using
α = 0.05, which one of the following statements is true?
▸ Because the
p-value is less than
α, we can conclude that a difference exists between the average final exam grades for the Introduction to Marketing course and the Introduction to Finance course.
▸ Because the
p-value is greater than
α, we cannot conclude that no difference exists between the average final exam grades for the Introduction to Marketing course and the Introduction to Finance course.
▸ Because the
p-value is less than
α, we can conclude that no difference exists between the average final exam grades for the Introduction to Marketing course and the Introduction to Finance course.
▸ Because the
p-value is greater than
α, we cannot conclude that a difference exists between the average final exam grades for the Introduction to Marketing course and the Introduction to Finance course.
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