Home /
Expert Answers /
Statistics and Probability /
an-economist-wants-to-analize-the-salaries-of-faculty-in-private-institutions-and-public-instituti-pa197
(Solved): An economist wants to analize the salaries of faculty in private institutions and public instituti ...
An economist wants to analize the salaries of faculty in private institutions and public institutions. Independent simple random samples of 12 faculty members in private institutions and 15 faculty members in public institutions yielded the data in the table below. Let population 1 be faculty in private institutions and population 2 be faculty in public institutions. Use level of significance to decide whether there is sufficient evidence that the standard deviation of the salary of faculty in private institutions is less than the standard deviation of the salary of faculty in public institutions. Assume that the samples are from normal populations. Procedure: Step 1. Hypotheses: : The type of test is Step 2. The significance level Step 3. Compute the value of the test statistic and the P-value: (Round answers to 3 decimal places) P-value Step 4. Decision: Step 5. Conclusion: At significance level we have sufficient evidence to reject the null hypothesis in favor of the alternative hypothesis.
Expert Answer
Given data :For sample 1$$\mathrm{n_{1}}$$ = 12$$\mathrm{s_{1}}$$= 10.346For sample 2$$\mathrm{n_{2}}$$ = 15$$\mathrm{s_{2}}$$= 10.654