Reference no: EM132495228
Consider the following data drawn independently from normally distributed populations: (You may find it useful to reference the appropriate table: z table or t table)
x bar 1 = -26.0
xbar 2= -25.7
x-2 = -25.7
s12 = 8.0
S22 = 8.8
n1 = 17
n2 = 26
a. Construct the 95% confidence interval for the difference between the population means. Assume the population variances are unknown but equal. (Round all intermediate calculations to at least 4 decimal places and final answers to 2 decimal places.)
The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. It is an attractive alternative to getting an MBA for students wanting a career in investment. A student of finance is curious to know if a CFA designation is a more lucrative option than an MBA. He collects data on 50 recent CFAs with a mean salary of $140,000 and a standard deviation of $52,000. A sample of 80 MBAs results in a mean salary of $131,000 with a standard deviation of $14,000.
Assume that μ1 is the population mean for individuals with a CFA designation and μ2 is the population mean of individuals with MBAs. (You may find it useful to reference the appropriate table: z table or t table)
Calculate the value of the test statistic. Do not assume that the population variances are equal. (Round all intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.)
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