Statistics problem, can you help?

Question

Preparing for a statistics final. Can you answer the below question? Please give as much detail as possible.

The dean of a large and well-respected school of business is interested in evaluating the starting salaries being offered to its current MBA graduating class. Suppose the dean wishes to examine the effect of major concentration and gender on starting salary. Of the 24 graduating students in the study, there are three within each gender and major combination. The salary packages offered are as follows:

Salary Package (in thousands of dollars)

Accounting-Finance-Mangmt-Marketing
Male
89.3-100.2-82.1-85.2
98.9-93.0-74.4-68.3
100.4-106.5-84.3- 69.2
Female
87.8-81.6-67.8-81.9
81.7-91.7-72.2-77.1
83.1-75.4-64.7-75.3
What should the dean conclude?

Remember, I'm looking for the statisitcs answer, not the simple logical answer.

The 4th category was deleted. It is Marketing.

Answer 1

Here is what can be concluded. On average, males make more than their female counterparts in all majors except marketing (72.2), in which females make more(78.1). Finance has the highest wage on average (91.4) for all of the majors. Males make more in the finance major than in the other respective majors. Females make the most in the accounting major. Thus, the dean should conclude that females should pursue positions in accounting, and males should pursue positions in finance, if they want to maximize their starting salaries.

Answer 2

Here's statistics answer for you. GRAPH them.

You can make a bar graph with all 3 majors in the x axis and the salary numbers in the y axis. Within each category, you have a side by side bar graph - one for female, one for male ( ladies, first) or if you're a feminist, male bar first, then female bar, showing that in STATISTICS there are still subtle biases.

Then, since graphs give you a visual picture for immediate comparison, knock yourself out in interpreting your graph.
Do not forget though to emphasize that the data is an AVERAGE.

You should do fine with the interpretation after you GRAPH them.

Answer 3

Male finance majors make the most. Female management majors make the least.

Answer 4

false