Question
Assume that the hourly wages in the pharmaceutical sector in Australia are normally distributed with a mean of $50 and a standard deviation of $6.
Assume that the hourly wages in the pharmaceutical sector in Australia are normally distributed with a mean of $50 and a standard deviation of $6.
One of the large pharmaceutical firms has gathered a random sample of 50 of its workers and determined that their average hourly wage was $48.
You are required to assess whether we can conclude at the 90% level of confidence that the average hourly wage is less than the entire industry by answering the questions given below.
- Develop hypothesis
- Identify the standardised test statistics
- Level of significance
- Decision Rule
- Calculation of test statistic
Decision and Conclusion:
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Combinatorics And Graph Theory
Authors: John M Harris, Jeffry L Hirst, Michael J Mossinghoff
2nd Edition
0387797114, 9780387797113
