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The mean hourly wage for employees in goods-producing industries is currently $24.57 (Bureau of Labor Statistics website, April, 12, 2012). Suppose we take a sample of employees from the manufacturing industry to see if the mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries. a. State the null and alternative hypotheses we should use to test whether the population mean hourly wage in the manufacturing industry differs from the population mean hourly wage in the goods-producing industries. b. Suppose a sample of 30 employees from the manufacturing industry showed a sample mean of $23.89 per hour. Assume a population standard deviation of $2.40 per hour and compute the p -value. c. With α = .05 as the level of significance, what is your conclusion? d. Repeat the preceding hypothesis test using the critical value approach.

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
BuyFind

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

Solutions

Chapter
Section
Chapter 9.3, Problem 17E
Textbook Problem
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The mean hourly wage for employees in goods-producing industries is currently $24.57 (Bureau of Labor Statistics website, April, 12, 2012). Suppose we take a sample of employees from the manufacturing industry to see if the mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries.

  1. a. State the null and alternative hypotheses we should use to test whether the population mean hourly wage in the manufacturing industry differs from the population mean hourly wage in the goods-producing industries.
  2. b. Suppose a sample of 30 employees from the manufacturing industry showed a sample mean of $23.89 per hour. Assume a population standard deviation of $2.40 per hour and compute the p-value.
  3. c. With α = .05 as the level of significance, what is your conclusion?
  4. d. Repeat the preceding hypothesis test using the critical value approach.

Expert Solution

a.

To determine

Identify the null and alternative hypotheses that are most appropriate for this situation.

Explanation of Solution

The given information is that the study based on the hourly wage for employees in goods-producing industries. Moreover, the population mean hourly wage in the goods-producing industries is $24.57.

Here, the claim is that the population mean hourly wage in the manufacturing industry differs from the population mean hourly wage in the goods-producing industries. This can be written as μ24.57. The complement of the claim is, μ=24

Expert Solution

b.

To determine

Find the p-value.

Expert Solution

c.

To determine

State the conclusion.

Expert Solution

d.

To determine

Repeat the preceding hypothesis test using critical value approach.

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Chapter 9 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT
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