Question

Data on return-to-pay ratios was collected from CEOs of companies within both the low-tech industry and the consumer products industry. Low-Tech Consumer Products Sample size 14 12 Sample mean 157 218 Sample variance 1563 1602 Assume population variances are unequal. Q1.11 Point The point estimate of the difference between the means of the two populations is

Answer 1

Explanation:

Given that :

_______low tech _____consumer products

n _______14 ___________ 12

Mean ___ 157 __________218

Variance _ 1563 ________1602

The point estimate of the difference between the means of the two populations :

Difference between the sample mean of low tech and consumer product

Sample mean (low tech) - sample mean (consumer product)

157 - 218

= - 61