I have 2 samples that I must compare using the 5% level of risk.
Population One - Sample Size 45, mean income $31,290, SD $1,060
Population Two - Sample Size 60, mean income $31,330, SD $1,900
I am suppose to test the hypothesis that the annual income of corporate trainers in areas of more than 500,000 (Population Two) are significantly more than those in areas of less than 100,00 (Population One).
The solution describes a testing of hypothesis problem using the five step procedure.