According to the U.S. Bureau of Labor Statistics, the average weekly earnings of a production worker in
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According to the U.S. Bureau of Labor Statistics, the average weekly earnings of a production worker in 1997 were $424.20. Suppose a labor researcher wants to test to determine whether this figure is still accurate today. The researcher randomly selects 54 production workers from across the United States and obtains a representative earnings statement for one week from each. The resulting sample average is $432.69. Assuming a population standard deviation of $33.90, and a 5% level of significance, determine whether the mean weekly earnings of a production worker have changed.
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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