Hypothesis testing for two population means

The present study shows data for salaries of accounting and marketing graduates of a business school at the end of the first year after graduation. The office of career services would like to test the claim (null hypothesis) that the average salary of accounting students is less or equal to the average salary of marketing students, against the alternative that the average salary of accounting student is higher than the average salary of marketing students. The office of career services collects a random sample of salaries of accounting and marketing students. We will use the Excel Data Analysis Add-in to test the claim and find the averages and variances for the salaries in the sample, the critical value(s) that define(s) the rejection region, the test statistic and the observed level of significance. We will compare the test statistic with our critical value(s) and decide if we should reject or not reject the null hypothesis. We will use different alpha levels to test the hypothesis. We will find the observed level of significance using an Excel formula. We will identify possible errors made and their types. Assume that the distribution of the salaries is normal and the sample is randomly selected.

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