Question
Consider the following context: Palisades University Medical Center is making a concerted effort to improve salaries for its hourly employees working in the hospital's low
Consider the following context: Palisades University Medical Center is making a concerted effort to improve salaries for its hourly employees working in the hospital's low skill labor force. According to a recent though possibly premature press release from the human resources department, for this population, the (mean) average hourly wages for these workers is now $20, give or take $2, which represents the population standard deviation. Stacy the stats intern working in the chief operations officer collected a sample of the hourly wages for 36 such low skills workers, and found they had a sample mean hourly wage of $19. She is admittedly skeptical that the reported wages are at the reported level, though respectfully won't speculate if higher or lower than reported. Is the human resources department's claim reasonable, at the 1% level of significance?
What is the lower bound of the confidence interval, expressed to two decimal places without insignificant digits or units?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started