(Use Excel) Access the hourly wage data on the text website (Hourly W age). An economist wants...

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(Use Excel) Access the hourly wage data on the text website (Hourly W age). An economist wants to test if the average hourly wage is less than $22.

a. State the null and the alternative hypotheses for the test.

b. Use the function Z.TEST to calculate the p -value. Assume that the population standard deviation is $6.

c. At α = 0.05 what is the conclusion? Is the average hourly wage less than $22?

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Business Statistics Communicating With Numbers

ISBN: 9780071317610

1st Edition

Authors: Kelly Jaggia

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Question Posted: Jul 26, 2024 02:00 AM

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(Use Excel) Access the hourly wage data on the text website (Hourly W age). An economist wants...

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Business Statistics Communicating With Numbers

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