Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company and its union are contemplating changes to the company pension plan. The company representative claims that the average number of years of

A company and its union are contemplating changes to the company pension plan. The company representative claims that the average number of years of service for the employees of the company is greater than 20. The union disagrees and claims that the representative's claim is too high. A sample of 24 employees was selected. The number of years of service for each of these employees is as follows: 26 20 18 22 19 25 24 20 26 19 21 19 10 21 22 25 22 27 17 20 23 22 28 20 a) Test the claim of the company representative at the 4% level of significance. Clearly show the steps of the hypothesis test that you use, and express your final conclusion using a clear English sentence. (12 marks) b) Determine the 98% confidence limit for the number of years of service for employees in the company. (3 marks)

Step by Step Solution

3.47 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

a Below are the null and alternate hypothesis H0 mu 20 Fro... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Statistics A Step By Step Approach

Authors: Allan Bluman

8th Edition

73386103, 978-0073386102

More Books

Students also viewed these Accounting questions

Question

=+6 Why is there no term for Q4?

Answered: 1 week ago