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Access the hourly wage data on the below Excel Data File (Hourly Wage). An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $5. E Click here for the Excel Data File a. Select the null and the alternative hypotheses for the test. Hg: H = 29; Ha: µ + 29 O Hg: µ s 29; HA: µ > 29 O Hg: H 2 29; HA: H < 29 O b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) 8 Answer is complete but not entirely correct. Test statistic -2.40 8 b-2. Find the p-value. p-value < 0.01 O O p-value 2 0.10 O 0.05 s p-value < 0.10 O 0.025 s p-value < 0.05 O 0.01 s p-value < 0.025

Access the hourly wage data on the below Excel Data File (Hourly Wage). An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $5. E Click here for the Excel Data File a. Select the null and the alternative hypotheses for the test. Hg: H = 29; Ha: µ + 29 O Hg: µ s 29; HA: µ > 29 O Hg: H 2 29; HA: H < 29 O b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) 8 Answer is complete but not entirely correct. Test statistic -2.40 8 b-2. Find the p-value. p-value < 0.01 O O p-value 2 0.10 O 0.05 s p-value < 0.10 O 0.025 s p-value < 0.05 O 0.01 s p-value < 0.025

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
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Access the hourly wage data on the below Excel Data File (Hourly Wage). An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $5. Click here for the Excel Data File a. Select the null and the alternative hypotheses for the test. Hg: H = 29; HA: µ + 29 Ο Hg: μ < 29; HA: μ > 29 Hg: H 2 29; HA: H < 29 b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) * Answer is complete but not entirely correct. Test statistic -2.40 8 b-2. Find the p-value. p-value < 0.01 O O p-value 2 0.10 O 0.05 s p-value < 0.10 O 0.025 s p-value < 0.05 O 0.01 s p-value < 0.025
Transcribed Image Text:Access the hourly wage data on the below Excel Data File (Hourly Wage). An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $5. Click here for the Excel Data File a. Select the null and the alternative hypotheses for the test. Hg: H = 29; HA: µ + 29 Ο Hg: μ < 29; HA: μ > 29 Hg: H 2 29; HA: H < 29 b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) * Answer is complete but not entirely correct. Test statistic -2.40 8 b-2. Find the p-value. p-value < 0.01 O O p-value 2 0.10 O 0.05 s p-value < 0.10 O 0.025 s p-value < 0.05 O 0.01 s p-value < 0.025
c. At a = 0.05, what is the conclusion? Do not reject Ho, the hourly wage is less than 29. Reject Ho, the hourly wage is not less than 29. Reject Ho,the hourly wage is less than 29 Do not reject Ho, the hourly wage is not less than 29.
Transcribed Image Text:c. At a = 0.05, what is the conclusion? Do not reject Ho, the hourly wage is less than 29. Reject Ho, the hourly wage is not less than 29. Reject Ho,the hourly wage is less than 29 Do not reject Ho, the hourly wage is not less than 29.
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