Answer Happy

A college student is interested in investigating the claim that students who graduate with a master's degree earn higher salaries, on average, than those who finish with a bachelor's degree. She surveys, at random, 36 recent graduates who completed their master's degrees, and finds that their mean salary is $35,000 per year. The standard deviation of annual salaries for the population of recent graduates who have master's degrees is known to be $3400. She also surveys, at random, 48 recent graduates who completed their bachelor's degrees, and finds that their mean salary is $34,100 per year. The standard deviation of annual salaries for the population of recent graduates with only bachelor's degrees is known to be $1100. Test the claim at the 0.10 level of significance. Let recent graduates with a master's degree be Population 1 and let recent graduates with a bachelor's degree be Population 2. Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below. H:H = H2 HH1 M2 Step 2 of 3: Compute the value of the test statistic. Round your answer to two decimal places. Step 3 of 3: Draw a conclusion and interpret the decision.