According to the Bureau of Labor Statistics, the average hourly wage in the United States was $22.57
Question:
According to the Bureau of Labor Statistics, the average hourly wage in the United States was $22.57 in May 2010.
To confirm this wage, a random sample of 36 hourly workers was selected during the month. The average wage for this sample was $21.32. Assume the standard deviation of wages for the country is $4.30.
a. Are the results of this sample consistent with the claim made by the Bureau of Labor Statistics using a 95%
confidence interval?
b. What is the margin of error for this sample?
c. Verify your result using Excel.
AppendixLO1
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