The president of a company states that the average hourly wage of her employees is $8.65. A
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The president of a company states that the average hourly wage of her employees is $8.65. A sample of 50 employees has the distribution shown. At α = 0.05, is the president’s statement believable? Assume σ = 0.105.
Class Frequency
8.35–8.43………………..…2
8.44–8.52…………………..6
8.53–8.61………………....12
8.62–8.70………………....18
8.71–8.79………………....10
8.80–8.88………………..…2
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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