Question: Part III: Hypothesis Testing Complete the hypothesis test of interest using the specified approach. Test at the 5% level of significance. Many bank employees are

Part III: Hypothesis Testing Complete the
Part III: Hypothesis Testing Complete the hypothesis test of interest using the specified approach. Test at the 5% level of significance. Many bank employees are paid by the hour. Consider a small bank called BBBanking which is currently hiring. During the interviewing process, BBBanking's manager indicates that it pays its hourly tellers comparable to any other bank. To ensure he is making an accurate statement, he collects a random sample of full-time hourly tellers' wages. Here are their wages (in dollars per year). 21,985 17,531 17,254 18,575 20,688 18,082 17,392 19,282 19,114 18,418 19,077 19,626 22,753 16,750 It is known that other banks pay their tellers an average of $20,000 per year. Use Excel to find the following (enter the data in column A). n= X = S =_ NO = a) Construct a (1-a) 100% CI to estimate the true average wage for BBBanking's full-time hourly tellers: NOTE: Excel can be used to find the MOE using the formula = CONFIDENCE. T(a, s, n) b) Suppose it is of interest to test if BBBanking is underpaying its workers. Is it possible to use the confidence interval approach to answer this question? State why or why not. c) Perform a hypothesis test to determine if BBBanking pays its workers differently than other banks. State the null & alt. hypothesis: Ho: VS. Ha: Is this a one-tailed or two-tailed test? 2 State the confidence interval:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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

Students Have Also Explored These Related Mathematics Questions!