Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An economist wanted to learn about compensation packages. A survey of workers was conducted that asked respondents to report their hourly wages and whether the

An economist wanted to learn about compensation packages. A survey of workers was conducted that asked respondents to report their hourly wages and whether the company they worked for produced goods or services. The data is contained in the data set below.

Perform an analysis to determine whether we can conclude at a 5% significance level that the mean wages of workers differs between goods producing companies and service producing companies.

Provide your analysis in an MS Excel file and upload the file.

Clearly identify in the worksheet your conclusion from your analysis.

Goods Wages Service Wages
29.84 9.42
15.54 24.08
23.5 18.53
16.06 10.32
26.99 27.92
28.84 6.19
24.61 22.99
17.17 43.17
25.54 21.22
30.73 10.7
14.85 27.41
10.65 10.3
24.4 26.15
22.7 22.35
6.12 6.46
33.44 25.77
7.15 16.44
21.43 16.7
26.92 23.78
17.09 30.31
9.23 22.31
24.48 21.67
18.08 22.61
14.03 13.67
22.83 18.61
17.94 14.65
16.64 7.02
25.33 25.85
27.31 29.47
11.56 29.63
21.14 17.22
15.67 9.79
36.48 20.61
32.79 33.54
23.95 15.14
28.94 33.4
37.6 17.42
16.41 22.63
25.42 17.4
8 18.84
19.23 19.67
12.85 18.15
24.15 9.49
14.77 7.85
31.16 14.18
12.9 7.38
17.67 32.43
8.05 13.39
39.25 6.31
17.85 22.45
12.51 16.76
19.73 28.39
15.84 7.33
10.12 7.47
18.42 25.35
21.05 10.12
23.24 8.58
35.84 8.65
18.3 7.95
15.43 32.98
19.72 12.08
29.96 10.19
20.95 13.8
17.17 31.24
37.22 29.99
31.09 20.88
21.82 11.82
23.79 16.18
31.95 19.29
33.89 25.58
12.77 16.84
17.04 26.44
17.2 20.52
12.24 15.36
7.44 32.13
38.19 12.25
7.21 32.47
16.78 26.45
12.7 11.53
20.23 36.82
12.43 14.34
20.72 20.32
13.6 14.6
30.55 26.76
25.3 10.4
35.33 8.1
27.56 27.95
26.37 38.6
24.49 17.71
15.59 17.25
26.89 9.82
32.42 16.28
11.98 13.58
24.38 24.09
17.21 18.98
14.54 25.27
11.9 18.19
19.85 14.51
6.11 33.9
23.57 25.82
19.39 12.69
17.91 8.23
21.34 23.89
9.88 17.18
16.63 8.99
23.97 9.23
31.52 21.82
27.37 16.36
16.14 22.39
27.26 24.18
24.3 7.48
10.13 23.85
18.73 14.47
20.74 37.83
17.96 7.23
35.09 29.17
29.53 20.35
31.57 18.28
28.9 29.15
15.09 38.54
26.35 12.44
13.61 17.41
20.38 13.81
13.71 12.32
23.37 42.7
31.59 10.66
13.69 8.07
22.37 24.59
29.1 6.79
21.14 23
29.02 9.2
14.83 27.63
23.36 26.7
11.02 10.01
29.9 27.13
27.44 7.24
20.51 10.77
16.65 28.26
27.97 8.94
24.89 17.61
30.02 25.84
35.6 26.09
18.06 32.41
19.06 13.26
37.78 12.97
19.7 17.5
10.22 14.04
11.01 18.92
11.88 29.71
22.88 6.51
26.51 13.2
16.13 17.2
8.53 11.24
21.61 20.18
24.56 32.58
29.95 15.45
25.18 27.62
11.65 15.6
35.64 7.42
26.1 27.04
11.93 14.81
17.24 13.35
22.98 17.3
22.58 26.56
25.25 10.42
17.57 12.28
18.92 9.48
11.67 12.89
8.2 7.97
21.57 26.85
34.37 23.09
22.43 33.28
17.75 41.13
26.44 19.81
24.15 29.54
19.69 11.93
22 9.36
16.02 8.19
36.32 23.54
17.14 14.63
22.89 15.24
22.32 11.16
12.89 10.01
14.01 9.67
19.75 18.33
12.97 18.02
23.16 10.83
17.58 10.67
12.77 45.39
19 26.13
12.23 28.25
19.16 17.88
29.14 27.84
25.89 19.31
19.6 25.98
18.02 26.38
21.55 17.75
11.42 11.85
8.65 14.19
11.3 28.67
6.14 19.71
26.43 13.25
12.63 15.44
25.06 7.85
12.34 8.14
19.83 35.61
20.84 24.62
13.69 32.87
7.75 26.23
6.22 20.08
21.64 25.55
26.33 25.07
32.8 30.97
17.07 19.25
22.81 24.37
19.29 6.82
20.25 20.86
7.28 24.69
20.78 18.17
51.21 41.47
9.46
7.36
22.62
13.59
18.92
11.07
22.17
17.83
31.02
16.67
12.64
18.81
18.38
22.6
14.85
17.87
27.38
17.88
40.91
23.31
16.46
15.09
14.89
11.41
20.46
16.61
24.7
23.18
23.28
11.6
15.69
6.58
23.29
10.98
18.39
20.44
26.62
9.1
31.41
35.76
34.31
16.34
29.24
19.87
11.05
24.2
22.83
30.9
21.16
29.06
26.77
29.8
8.66
32.37
16.7
15.41
32.13
26.2
20.47
14.73
20.72
11.93
21.86
12.47
31.53
30.07
30.77

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Step: 3

blur-text-image

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

Numerical Analysis And Optimization NAO-III, Muscat, Oman, January 2014

Authors: Mehiddin Al Baali, Lucio Grandinetti, Anton Purnama

1st Edition

3319176897, 9783319176895

More Books

Students also viewed these Mathematics questions

Question

What is the formula to calculate the mth Fibonacci number?

Answered: 1 week ago

Question

1. Background knowledge of the subject and

Answered: 1 week ago

Question

2. The purpose of the acquisition of the information.

Answered: 1 week ago