Author Question: Data was collected from CEOs of companies within both the low-tech industry and the consumer ... (Read 164 times)

serike · **on:** Feb 14, 2020

Data was collected from CEOs of companies within both the low-tech industry and the consumer products industry. The following printout compares the mean return-to-pay ratios between CEOs in the low tech industry with CEOs in the consumer products industry.

HYPOTHESIS: MEAN X = MEAN Y

SAMPLES SELECTED FROM RETURN

industry 1

(low tech)

(NUMBER = 15)

industry 3

(consumer products)

(NUMBER = 15)

_____________________________________________________________

X =

industry1

Y =

industry3

SAMPLE MEAN OF X =

157

.286

SAMPLE VARIANCE OF X =

1563

.45

SAMPLE SIZE OF X =

14

SAMPLE MEAN OF Y =

217

.583

SAMPLE VARIANCE OF Y =

1601

.54

SAMPLE SIZE OF Y =

12

MEAN X - MEAN Y =

-60

.2976

t =

-4

.23468

P-VALUE =

0

.000290753

P-VALUE/2 =

0

.000145377

SD. ERROR =

14

.239

If we conclude that the mean return-to-pay ratios of the consumer products and low tech CEOs are equal when, in fact, a difference really does exist between the means, we would be making a __________.
◦ Type III error
◦ Type I error
◦ Type II error
◦ correct decision

ciecieme · **Reply #1 on:** Feb 14, 2020

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 45% of students answer this correctly