Question: Access the hourly wage data on the text website (Hourly_Wage). An economist wants to test if the average hourly wage is less than $22. a.

Access the hourly wage data on the text website (Hourly_Wage). An economist wants to test if the average hourly wage is less than $22.
a. State the null and the alternative hypotheses for the test.
b. Use the function Z.TEST to calculate the p-value. Assume that the population standard deviation is $6.
c. At α = 0.05 what is the conclusion to the test? Is the average hourly wage less than $22?

Step by Step Solution

3.37 Rating (178 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a H 0 22 H A 22 b Excel CommandZTEST A2A51 2... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

391-M-S-H-T (326).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!