Mathematics, 07.11.2020 14:00 garciagang0630
A study is conducted into the number of business lunches that executives claim as deductible expenses. 50 executives in the insurance industry (population 1) made, on average, 7.9 deductible lunch claims with a standard deviation of 2.4, while 40 banking executives (population 2) made an average of 9.4 claims with a standard deviation of 2.8. Test the hypothesis that the mean number of deductions made by executives in the insurance industry is less than the mean number of deductions made by the banking executives. Let α=0.05. Calculate the value of the test statistic.
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A study is conducted into the number of business lunches that executives claim as deductible expense...
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