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The mean factory overhead per employees in goods-producing industries is currently $4.57. Suppose a sample of 25 employees from a manufacturing industry showed a sample
The mean factory overhead per employees in goods-producing industries is currently $4.57. Suppose a sample of 25 employees from a manufacturing industry showed a sample mean of $3.89 per hour. Assume the sample standard deviation of $.40 per hour. At a .05 significance level, can we conclude the mean factory overhead in the manufacturing industry differs from the population mean in the good-producing industries? Show the six steps of hypothesis testing.
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