Discuss the below:
Q: Is the mean salary of accountants who have reached partnership status higher than that for accountants who are not partners? A sample of 15 accountants who have the partnership status showed a mean salary of $82,000 with a standard deviation of $5,500. A sample of 12 accountants who were not partners showed a mean of $78,000 with a standard deviation of $6,500. At the 0.05 significance level can we conclude that accountants at the partnership level earn larger salaries?
a. State the null and alternate hypotheses.
H0: _______________________
H1: _______________________
b. State the decision rule.
c. Compute the value of the test statistic.
d. Compute the p-value.
e. What is your decision regarding the null hypothesis?
e. What is your decision regarding the null hypothesis?