The dataset included with this assignment is a random sample of 450 persons from the population survey of Australia in a particular year (2020). The population consists of working and drawing salaries during the survey year, which you can access from the Assessment Information page on the unit website. You need to select the random samples of 100 IDs, each containing observations, where appropriate, of the eight variables, V1 to V8. The variables in the data set are as follows: V1 = Salary (dollars per hour) V2 = Occupational category (1=Management, 2=Sales, 3=Clerical, 4=Service, 5=Professional, 6=Other) V3 = Sector (0=Other, 1=Manufacturing, 2=Construction) V4 = Indicator variable for Residency Ownership (1=Homeowner, 0=Tenant) V5 = Educational level (0= other, 1= Diploma, 2= Graduate Certificate, 3= Bachelor, 4=Master, 5= Doctorate) V6 = Number of years of work experience V7 =Age (years) V8 = Indicator variable for sex (1=Female, 0=Male). Assessment Tasks Answers to the Assessment 3 tasks must be based on the sample data file you created in Part I of the assignment. In addition, most tasks in assessment 3 require you to obtain an Excel output before performing some analysis. There are five tasks in Assessment 3.

Use Excel and your sample data file to produce a suitable output; test, at the 5% level of significance, the hypothesis that, for Salaries (dollar per hours) in the population with mean is $25. b. Is this a one-tailed or two-tailed test? Briefly explain the reasoning behind your answer. c. Write, in precise symbolic form, the null and alternative hypotheses. d. Define Z test and calculate the value of test statistics. e. Define critical values based on the nature of the problem. f. Find a 95% confidence interval for the salaries (dollar per hour) in the population. g. Make the decision based on the critical value.