00:01
And in this question, you look at industry, which pays its employees a norally wage that follows a standard normal distribution.
00:10
With a mean value, muir equals 37 and a standard deviation, which is 97, right, according to the question, sorry, 96.
00:26
And then there's a company which pays to employ at an normally average wage, which is 18.
00:33
And that seems much below this average, the industrial average, 7, right? so there might be the accusation that this company pays, say, a substandard wage to its employees.
00:52
So the question is, how many employees wage you have to collect so as to debunk this accusation at a at a 95 % confidence level, right? so you need to construct, so what i'm going to do is construct a confidence, a 95 % confidence interval for this company, right? and the one we can do the confidence interval for this company is given by x mean, it means the x bar, this 18 minus, you know, the s and times the factor.
01:33
Which i call z at 95 % so it's actually 2 .5 % for this factor and divided by the number of employees you have to collect, right? the wages of the employees, the number of the employees host of wages you need to collect...