The president of a company states that the average hourly wage of her employees is $8 65 A sample of 50 employees has the distribution shown At 0 05, is the presidents statement believable Assume 0 105 Class Frequency 8 358 43 2 8 448 52 6 8 538 61 12 8 628 70 18 8 718 79 10 8 808 88 2 ...

The mean and standard deviation are found as follows X ...

The president of a company states that the average hourly wage of her employees is $8.65. A

Question:

The president of a company states that the average hourly wage of her employees is $8.65. A sample of 50 employees has the distribution shown. At α = 0.05, is the president’s statement believable? Assume σ = 0.105.

Class Frequency

8.35–8.43………………..…2

8.44–8.52…………………..6

8.53–8.61………………....12

8.62–8.70………………....18

8.71–8.79………………....10

8.80–8.88………………..…2

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...