The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. It is an attractive alternative to getting an MBA for students wanting a career...

Extracted text: The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. It is an attractive alternative to getting an MBA for students wanting a career in investment. A student of finance is curious to know if a CFA designation is a more lucrative option than an MBA. He collects data on 36 recent CFAS with a mean salary of $145,000 and a standard deviation of $36,000. A sample of 47 MBAS results in a mean salary of $135,000 with a standard deviation of $24,000. Assume that H, is the population mean for individuals with a CFA designation and u, is the population mean of individuals with MBAS. (You may find it useful to reference the appropriate table: z table or t table) a. Set up the hypotheses to test if a CFA designation is more lucrative than an MBA at the 10% significance level. O Họ: 41- H2 = 0; HA: H1 - H2# 0 O Ho: 1-4220; HA H1 - 42<0 ho:="" 1-h250;="" ha="" h1-="" 42="">00 b-1. Calculate the value of the test statistic. Do not assume that the population variances are equal. (Round all intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) Test statistic