Question
Based on the hypotheses(Salary Wage difference between Men and Women), please answer the following questions: What is the margin of error for a 95% Confidence
Based on the hypotheses(Salary Wage difference between Men and Women), please answer the following questions:
- What is the margin of error for a 95% Confidence Interval for estimate of the population parameter?
- Normally, we determine the appropriate sample size during the early stages of study design, before collecting any data.In this case, have already been given the data for your Final Project.But let's suppose do not have the data and thatwould like to achieve a margin of error that is half of what calculated in the previous question.What sample size would you need?
- Discuss the various issues that would consider in determining an appropriate sample size for study.
My Hypothesis will be testing whether men make more money than women on average.
H: u1=u2
H1:u1>u2,
Where u1 is the mean salary for Men and u2 is the mean salary for Women
Alpha = 5% or 0.05
Z= (p1-p2) / p (1-p) (1/n1+1/n2)
Decision Rule: Reject H0 if z < -1.645 (upper tailed study) this matches with the hypothesis
This will be a two-tailed test of two samples
https://docs.google.com/spreadsheets/d/1-pXCeiYV57ViuFOxi-6fKk5RNtbVR_dAAMRS-uuSCgI/edit#gid=0
please attach an excel file to post that shows all calculations for the margin of error in question 1 as well as the necessary sample size in question 2.
Data information: As has been the case in recent decades, the 2020 wage gap was smaller for workers ages 25 to 34 than for all workers 16 and older. Women ages 25 to 34 earned 93 cents for every dollar a man in the same age group earned on average. In 1980, women ages 25 to 34 earned 33 cents less than their male counterparts, compared with 7 cents in 2020. The estimated 16-cent gender pay gap among all workers in 2020 was down from 36 cents in 1980.
https://www.pewresearch.org/fact-tank/2021/05/25/gender-pay-gap-facts/
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