According to the local union president, the mean gross income of plumbers in the Salt Lake City
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According to the local union president, the mean gross income of plumbers in the Salt Lake City area follows the normal probability distribution with a mean of $45,000 and a standard deviation of $3,000. A recent investigative reporter for KYAK TV found, for a sample of 120 plumbers, the mean gross income was $45,500. At the .10 significance level, is it reasonable to conclude that the mean income is not equal to $45,000? Determine the p-value.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal
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