The table below presents the summary statistics for the starting annual salaries
ID: 3217629 • Letter: T
Question
The table below presents the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions.
Sample I (public accounting): 1 = 60.35, S1 = 3.25, n1= 12
Sample II (financial planning): 2 = 58.20, S2 = 2.48, n2 = 14
Test whether the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning assuming that the two population variances are the same.
What additional assumption is needed for the test to be valid?
The two sample sizes have to be equal.
The two population means have to be the same.
The two population sizes have to be equal.
a:The two sample sizes have to be equal.
b:The two population means have to be the same.
c:The two population sizes have to be equal.
Explanation / Answer
The additional assumption which is required is that the samples must have been taken from the normal population. Any of these options are not correct.
The assumtion should be that the population distributions of the two annual salaries have to be normal.
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