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3) Hourly wages in a particular industry are considered standard if they are $13.20 or more per hour. a) Formulate the null and alternative hypotheses
3) Hourly wages in a particular industry are considered standard if they are $13.20 or more per hour. a) Formulate the null and alternative hypotheses that allow us to prove that hourly wages in a particular industry are considered standard. b) With a significance level of 0.05 and a sample of 40 workers, what is the rejection rule based on the value of x for the test to determine if the hourly wages of a particular company are considered standard? Assume that the population standard deviation is $2.50 per hour. c) What would a type II error indicate in this case? d) What is the probability of making a type II error when the true average wage is $13.10 per hour
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