business stat final 4 pages
crytal20
crystal_sims_business_statistics_week_6.docx
1. Business major
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One-Sample Test |
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Test Value = 160000 |
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t |
df |
Sig. (2-tailed) |
Mean Difference |
95% Confidence Interval of the Difference |
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Lower |
Upper |
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cost |
2.535 |
19 |
.020 |
$28,632.000 |
$4,995.67 |
$52,268.33 |
Let µ be the mean cost for business major.
The hypotheses are
Ho: µ=160000 vs Ha: µ≠160000
The t value is 2.535 with a p value of .020 which is less than 0.05. Thus we reject Ho at 5% level and conclude that the mean cost for business major is not equal to 160000.
Engineering major
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One-Sample Test |
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Test Value = 160000 |
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t |
df |
Sig. (2-tailed) |
Mean Difference |
95% Confidence Interval of the Difference |
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Lower |
Upper |
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cost |
-1.076E4 |
19 |
.000 |
$-159,835.900 |
$-159,866.99 |
$-159,804.81 |
Let µ be the mean cost for engineering major.
The hypotheses are
Ho: µ=160000 vs Ha: µ≠160000
The t value is -1.076E4 with a p value of 0.00 which is less than 0.05. Thus we reject Ho at 5% level and conclude that the mean cost for engineering major is not equal to 160000.
2.
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t-Test: Two-Sample Assuming Unequal Variances |
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30 Year ROI |
30 Year ROI |
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Mean |
1477800 |
1838000 |
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Variance |
17673957895 |
32327578947 |
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Observations |
20 |
20 |
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Hypothesized Mean Difference |
0 |
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df |
35 |
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t Stat |
-7.203889288 |
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P(T<=t) one-tail |
1.04423E-08 |
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t Critical one-tail |
1.306211802 |
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P(T<=t) two-tail |
2.08847E-08 |
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t Critical two-tail |
1.68957244 |
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Let µ1 and µ2 be the mean cost for business major and engineering major respectively.
The hypotheses are
Ho: µ1 = µ2 vs Ha: µ1 < µ2
