Question

The data accompanying this exercise show hourly wages (Wage in $) for 50 employees. An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $9. Click here for the Excel Data File a. Select the null and the alternative hypotheses for the test. H0: ? = 29; HA: ? ? 29 H0: ? ? 29; HA: ? > 29 H0: ? ? 29; HA: ? < 29 b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round final answer to 2 decimal places.) Test statistic: -2.41 b-2. Find the p-value. 0.025 < p-value < 0.05 0.01 < p-value < 0.025 p-value < 0.01 p-value > 0.10 0.05 < p-value < 0.10 c. At ? = 0.01, what is the conclusion? Reject H0, the hourly wage is less than 29. Reject H0, the hourly wage is not less than 29. Do not reject H0, the hourly wage is not less than 29.

          The data accompanying this exercise show hourly wages (Wage in $) for 50 employees. An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $9.

Click here for the Excel Data File

a. Select the null and the alternative hypotheses for the test.
H0: ? = 29; HA: ? ? 29
H0: ? ? 29; HA: ? > 29
H0: ? ? 29; HA: ? < 29

b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round final answer to 2 decimal places.)
Test statistic: -2.41

b-2. Find the p-value.
0.025 < p-value < 0.05
0.01 < p-value < 0.025
p-value < 0.01
p-value > 0.10
0.05 < p-value < 0.10

c. At ? = 0.01, what is the conclusion?
Reject H0, the hourly wage is less than 29.
Reject H0, the hourly wage is not less than 29.
Do not reject H0, the hourly wage is not less than 29.

The data accompanying this exercise show hourly wages (Wage in ) for 50 employees. An economist wants to test if the average hourly wage is less than29. Assume that the population standard deviation is 9.

Click here for the Excel Data File

a. Select the null and the alternative hypotheses for the test.
H0: ? = 29; HA: ? ? 29
H0: ? ? 29; HA: ? > 29
H0: ? ? 29; HA: ? < 29

b-1. Find the value of the test statistic. (Negative value should be indicated by a minus sign. Round final answer to 2 decimal places.)
Test statistic: -2.41

b-2. Find the p-value.
0.025 < p-value < 0.05
0.01 < p-value < 0.025
p-value < 0.01
p-value > 0.10
0.05 < p-value < 0.10

c. At ? = 0.01, what is the conclusion?
Reject H0, the hourly wage is less than 29.
Reject H0, the hourly wage is not less than 29.
Do not reject H0, the hourly wage is not less than 29.

Added by James T.

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