Question

A sample of 525 Baylor graduates reveals that their mean income is $54,344 with a standard deviation of $31,343. The mean population income is $52,385. State a research and null hypothesis. What is the obtained Z- or t-statistic for the difference between means? Does Baylor grad income vary from the population income with a two-tailed test at p < .10? p < .05? p < .01?

Answer 1

To conduct a hypothesis test to determine if the means of the transfer-bound students' spending on texts and supplies are statistically the same at their community college and four-year university, we can use a two-sample t-test.

Step-by-step explanation:

To conduct a hypothesis test to determine if the means of the transfer-bound students' spending on texts and supplies are statistically the same at their community college and four-year university, we can use a two-sample t-test.

The null hypothesis (H0) states that the means are equal, while the alternative hypothesis (Ha) states that the means are not equal.

The obtained t-statistic for the difference between means can be calculated using the formula: t = (mean1 - mean2) / sqrt((sd1^2/n1) + (sd2^2/n2)), where mean1 and mean2 are the sample means, sd1 and sd2 are the population standard deviations, and n1 and n2 are the sample sizes.

To determine if the means differ significantly at different significance levels, we compare the obtained t-statistic to the critical t-value.

We can use a two-tailed test to check if the means are statistically different at p < .10, p < .05, and p < .01.