A Management Consultant Wants to Compare the Incomes of Graduates

Essay

A management consultant wants to compare the incomes of graduates of MBA programs with those of graduates with Bachelor's degrees. In a random sample of the incomes of 20 people taken five years after they received their MBAs, the consultant found the mean salary and the standard deviation to be $45 300 and $9600, respectively. A random sample of the incomes of 25 people taken five years after they received their Bachelor's degrees yielded a mean salary of $43 600 with a standard deviation of $12 300. Can we infer at the 10% level of significance that the population means differ?