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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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lotusflwr lotusflwr
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6 months ago

Information regarding the starting salaries (in $1,000) of samples of students in four different majors is given below.
 

Majors
 

 

Management

Marketing

Finance

Accounting

Sample size

12

10

9

14

Average

26

31

22

25

Sample variance

10

7

15

9


 

a.Compute the overall sample mean .
b.Set up the ANOVA table for this problem including the test statistic.
c.At 95% confidence, determine the critical value of F.
d.Using the critical value approach, test to determine whether there is a significant difference in the means of the three populations.
e.Determine the p-value and use it for the test.

Textbook 
Essentials of Statistics for Business and Economics

Essentials of Statistics for Business and Economics


Edition: 7th
Authors:
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penmcpenmc
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6 months ago
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More solutions for this book are available here

a. 26
 

b.
 

Source of Variation

SS

df

MS

F

Between Groups

408

3

136

13.6

Within Groups

410

41

10

 
Total

818

44

  

c. 2.84 (approximated at 40 denominator degrees of freedom)
 

d. Since 13.6 > 2.84, reject Ho and conclude there is a significant difference among the means of the three populations.
 

e. P- value <.01, therefore reject Ho (actual p-value using Excel is almost zero).
1

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lotusflwr Author
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6 months ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
mmmm_dat_userna
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Yesterday
Good timing, thanks!
shelbycox
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2 hours ago
You make an excellent tutor!
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