The data accompanying this exercise show hourly wages (Wage in $) for 50 employees. An economist wants to test if the average hourly wage is less than $29. Assume that the population standard deviation is $5.

Wage	EDUC	EXPER	AGE	Male
39.34	11	2	40	1
22.53	4	1	39	0
43.88	4	2	38	0
28.24	5	9	53	1
19.34	6	15	59	1
13.19	6	12	36	1
15.37	9	5	45	0
37.26	4	12	37	0
18.55	5	14	37	1
32.46	11	3	43	1
14.61	8	5	32	0
19.00	9	18	40	1
19.38	7	1	49	1
18.14	4	10	43	0
43.47	1	9	31	0
17.66	9	22	45	0
15.28	11	3	31	1
33.84	4	14	55	0
40.14	6	5	30	1
36.52	9	3	28	0
25.60	6	15	60	1
16.49	4	13	32	0
30.17	4	9	58	1
22.13	5	4	28	0
39.30	6	5	40	1
21.00	6	2	37	0
37.44	4	18	52	1
15.45	6	4	44	0
14.80	6	4	57	0
13.45	9	3	30	1
39.03	5	8	43	0
34.73	7	6	31	1
28.05	4	3	33	0
14.26	6	23	51	1
12.45	4	15	37	0
27.33	4	9	45	0
39.85	6	3	55	0
28.83	5	14	57	0
31.20	9	16	36	1
33.77	4	20	60	1
25.61	4	5	35	0
19.44	9	10	34	0
25.96	5	4	28	1
41.68	6	1	25	0
40.06	7	10	43	1
35.73	9	2	42	1
31.90	4	17	47	0
31.07	11	2	46	1
26.54	4	15	52	0
33.45	8	11	64	0

a.Select the null and the alternative hypotheses for the test.

a)H₀:= 29;H_A: 29

b)H₀: 29;H_A:> 29

c)H₀: 29;H_A:< 29

b-1.Find the value of the test statistic.(Negative value should be indicated by a minus sign. Round final answer to 2 decimal places.) Test Statistic=

b-2.Find thep-value.

a)p-value < 0.01

b)p-value 0.10

c)0.05 p-value < 0.10

d)0.025 p-value < 0.05

e)0.01 p-value < 0.025

c.At= 0.01, what is the conclusion?

a)Do not rejectH₀, the hourly wage is less than 29.

b)RejectH₀, the hourly wage is not less than 29.

c)RejectH₀,the hourly wage is less than 29

d)Do not rejectH₀, the hourly wage is not less than 29.