Question: Please help me solve this Statistics Homework Interferences about the population Show all the steps please. A SAMPLE OF 16 EMPLOYEES WAS DRAWN FOR THE
Please help me solve this Statistics Homework
Interferences about the population
Show all the steps please.


A SAMPLE OF 16 EMPLOYEES WAS DRAWN FOR THE ANALYSIS OF THE AVERAGE BONUS EARNED LAST YEAR. ASSUME THAT THE INDIVIDUAL BONUS IS NORMALLY DISTRIBUTED WITH UNKNOWN PARAMETERS. SAMPLE SUMMARIES ARE: (SAMPLE MEAN) = $5,400 AND (SAMPLE STANDARD DEVIATION) = $1,280. z. [30 POINTS = 5 + 10 + 5 + 10] REPEAT THE PREVIOUS PART (WITH SAMPLE SIZE = 16) IF IN ADDITION TO THE SAMPLE SUMMARIES (SAMPLE MEAN) = $5,400 AND (SAMPLE STANDARD DEVIATION) = $1,280, THE POPULATION STANDARD DEVIATION Is KNOWN AS $1,250. (A) AT THE 5% SIGNIFICANCE LEVEL, DO WE HAVE SUFFICIENT EVIDENCE THAT THE POPULATION AVERAGE BONUS WAS BELOW $6,000? CIRCLE APPROPRIATE ANSWER: YES! NO! (B) SHOW THE TEST STATISTIC VALUE, THE CRITICAL VALUE(S) NEEDED FOR YOUR DECISION AND FORMULATE THE REJECTION RULE. TEST STATISTIC VALUE = CRITICAL VALUE(S): REJECTION RULE STATES... (C) AT THE SAME 5% SIGNIFICANCE LEVEL, DO WE HAVE SUFFICIENT EVIDENCE THAT THE POPULATION AVERAGE BONUS EXCEEDED $4,900? CIRCLE APPROPRIATE ANSWER: YES! NO! (D) SHOW THE CRITICAL VALUE(S) NEEDED FOR YOUR DECISION AND FORMULATE THE REJECTION RULE. TEST STATISTIC VALUE = CRITICAL VALUE(S): REJECTION RULE STATES
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
