Statistical Strategy and Quantitative Perspectives
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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?
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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.
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