Assignment:
Three years after receiving their degrees, graduates of a university’s MBA program have reported their annual salary rates, with a portion of the data listed in file XR11097. Graduates in one of the groups represented in the data are employed by consulting firms, while another group consists of graduates who are with national-level corporations. Considering these groups as data from independent samples, use the 0.05 level in determining whether the sample means differ significantly from each other. Identify and interpret the p-value for the test, then generate and interpret the 95% confidence interval for the difference between the population means.
Provide complete and step by step solution for the question and show calculations and use formulas.