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.

Please help me solve this Statistics HomeworkInterferences about the populationShow all thesteps please. A SAMPLE OF 16 EMPLOYEES WAS DRAWN FOR THE ANALYSIS

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

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