Question
Wall Street traders are anxiously waiting for the federal governments release of the February numbers for nonfarm payrolls. Last year month of February showed an
Wall Street traders are anxiously waiting for the federal governments release of the February numbers for nonfarm payrolls. Last year month of February showed an average of 200,000 new jobs with a standard deviation of 40,000. A sample of 100 nonfarm payrolls taken earlier in the week shows a sample mean of 190,000. Financial analysts often call such a sample mean the whisper number. Conduct a hypothesis test to determine whether the whisper number justifies a conclusion of a statistically significant change in the number of new jobs with respect to last year. Allow for 5% error inthetest (.05 level of statistical significance).
What is the value of the test statistic you calculated (to 2 decimals)?
Indicate positive or negative value+/-
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