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Statistical Strategy and Quantitative Perspectives

I have been asked to suppose that faculty at my college are assigned overload courses hence additional compensation beyond the required contract hours based on seniority. There is a concern that new faculty may not be able to enjoy the same financial compensation as their senior faculty counterparts. How would you, from a quantitative perspective, address issues of financial compensation equity? What statistical strategy and procedures would you use to design the study and investigate the issues of equity affecting faculty compensation?

Solution Summary

This solution provides the null and alternative hypothesis and creates the decision rule. It then uses the t-test to determine the test statistic and compares it to the p-value to make a decision in either accepting or rejecting the null hypothesis. A graph of the normal distribution is included for further understanding.