Statistics - Hypothesis Testing Projects

Do undergraduate business students who major in finance earn, on average, higher annual starting salaries

Do undergraduate business students who major in finance earn, on average, higher annual starting salaries than their peers who major in marketing? Address this question through a statistical hypothesis. The file P10_23.xls contains the starting salaries of 50 randomly selected marketing majors.

Is it appropriate to perform a paired-comparison t-test in this case ?Explain why or why not.
Perform an appropriate hypothesis test with a 1% significance level. Summarize your findings.
How large would the difference between the mean starting salaries of finance and marketing majors have to be before you could conclude that the finance majors earn more on average? Employ a 1% significance level in answering this question.

Data

Graduate	Salary
1	33,379
2	30,578
3	31,446
4	30,112
5	28,954
6	31,197
7	31,662
8	27,973
9	31,319
10	28,167
11	29,647
12	29,870
13	27,781
14	31,913
15	28,853
16	27,315
17	30,983
18	29,750
19	29,658
20	30,377
21	34,575
22	29,522
23	31,444
24	29,275
25	26,803
26	28,727
27	32,531
28	33,373
29	31,755
30	31,393
31	26,124
32	30,653
33	30,795
34	30,319
35	31,654
36	27,214
37	30,579
38	30,249
39	31,024
40	31,940
41	31,387
42	29,479
43	30,735
44	29,271
45	31,720
46	30,510
47	30,701
48	25,200
49	31,505
50	28,928