1.Suppose you know the population average wage in the manufacturing industry in the U.S. is $26.72 per hour. You take a survey 40 people that work in manufacturing in Spain to answer the following research question.

Research Question: Is the population average manufacturing wage in Spain less than $26.72 per hour, the population average manufacturing wage in the U.S.?

You know the population standard deviation for manufacturing wages in Spain is $2.60 per hour.

Suppose you are using a significance level of 0.01 or 1% (=0.01).

Suppose that the true average manufacturing wage in Spain is $25 per hour. What is the minimum sample size necessary to ensure that the probability of a Type II Error is less than 1%?

(Please, help me using Excel!)