4. The Northwestern University Placement Center conducts surveys on starting salaries for college graduates. The annual

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4 The Northwestern University Placement Center Conducts Surveys On Starting Salaries For College Graduates The Annual 1 (48.45 KiB) Viewed 19 times

4. The Northwestern University Placement Center conducts surveys on starting salaries for college graduates. The annual starting salaries obtained from independent random samples of 135 liberal-arts graduates and 132 accounting graduates. The sample of liberal-arts graduates yielded an average annual starting salary of $32,000 with a standard deviation of $1820. The sample of accounting graduates yielded an average annual starting salary of $35,500 with a standard deviation of $1730. a. Determine a 95% confidence interval for the difference between the mean starting annual salaries of liberal-arts and accounting graduates. Explain your findings. b. Test the hypothesis that accounting graduates, on average, start at a higher annual salary than liberal-arts graduates. Compute the p-value of the test statistic to make a determination.