(Use Excel) As the class of 2012 celebrates the end of college, for many the pro
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Question
(Use Excel) As the class of 2012 celebrates the end of college, for many the promise of a college degree has turned to disappointment as they find themselves struggling to find a job (Financial Times, June 1, 2012). It is especially disturbing since recent evidence suggests that graduating at bad economic times can impact the person's earning power for a long time. An associate dean at a prestigious college wants to determine if the starting salary of his college graduates has declined from 2008 to 2010. He expects the variance of the salaries to be different between these two years. The accompanying table shows a portion of the salary data for 40 college graduates. Let Sample 1 be the sample of the starting salary of college graduates in 2008 and Sample 2 be the sample of the starting salary of college graduates in 2010. Specify the competing hypotheses that determine whether the starting salary of college graduates has declined from 2008 to 2010. H_0: mu_1 - mu_2 greaterthanorequalto 0; H_A: mu_1 - mu_2 0 H_0: mu_1 - mu_2 = 0; H_A: mu_1 - mu_2 notequalto 0 Using the p-value approach, have salaries gone down from 2008 to 2012 at the 5% significance level? Reject H_0; the starting salary of college graduates has declined from 2008 to 2010. Reject H_0; the starting salary of college graduates has not declined from 2008 to 2010. Do not reject H_0; the starting salary of college graduates has declined from 2008 to 2010. Do not reject H_0; the starting salary of college graduates has not declined from 2008 to 2010.Explanation / Answer
a-1) c is answer
a-2) b is answer
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