You may need to use the appropriate appendix table or technology to answer this question. The mean hourly wage for employees in goods-producing industries is currently $24.57. Suppose we take a sample of employees from the manufacturing industry to see if the mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries. (a) State the null and alternative hypotheses we should use to test whether the population mean hourly wage in the manufacturing industry differs from the population mean hourly wage in the goods-producing industries. H: H > 24.57 O H: U S 24.57 O H: M 2 24.57 H,: u 24.57 (b) Suppose a sample of 30 employees from the manufacturing industry showed a sample mean of $23.82 per hour. Assume a population standard deviation of $2.40 per hour. Compute the test statistic. (Round your answer to two decimal places.) Compute the p-value. (Round your answer to four decimal places.) p-value = (c) With a = 0.05 as the level of significance, what are your decision and conclusion? O Reject Ho. We cannot conclude that the population mean hourly wage for manufacturing workers differs significantly from the population mean of $24.57 for the goods-producing industries. O Do not reject Ho. We cannot conclude that the population mean hourly wage for manufacturing workers differs significantly from the population mean of $24.57 for the goods-producing industries. O Do not reject Ho. We can conclude that the population mean hourly wage for manufacturing workers differs significantly from the population mean of $24.57 for the goods-producing industries. O Reject Ho. We can conclude that the population mean hourly wage for manufacturing workers differs significantly from the population mean of $24.57 for the goods-producing industries.(d) Repeat the preceding hypothesis test using the critical value approach. State the null and alternative hypotheses. H0114 > 24.57 HE: [A 5 24.57 :p 2 24.57 :p 24.57 Find the value of the test statistic. (Round your answer to two decimal places.) E State the critical values for the rejection rule. {Use a : 0.05. Round your answer to two decimal places. If the test is oneitailed, enter NONE for the unused tail.) test statistic s |:| test statistic 2 |:| State your decision and conclusion. 0 Reject Hu. We cannot conclude that the population mean hourly wage for manufacturing workers differs signicantly from the population mean of $24.57 for the goods-producing industries. 0 Do not reject H0. We cannot conclude that the population mean hourly wage for manufacturing workers differs signicantly from the population mean of $24.57 for the goodsproducing industries. 0 Do not reject H0. We can conclude that the population mean hourly wage for manufacturing workers differs significantly from the population mean of $24.57 for the goods-producing industries. O Reject H0. We can conclude that the population mean hourly wage for manufacturing workers differs significantly from the population mean of $24.57 for the goods-producing industries. You may need to use the appropriate technology to answer this question. The Wall Street Journal reported that bachelor's degree recipients with majors in business received average starting salaries of $53,900 in 2012. f The results for a sample of 100 business majors receiving a bachelor's degree in 2013 showed a mean starting salary of $55,191 with a sample standard deviation of $5,200. Conduct a hypothesis test to determine whether the mean starting salary for business majors in 2013 is greater than the mean starting salary in 2012. Use a = 0.01 as the level of significance. State the null and alternative hypotheses. H: M > 53,900 O H : M S 53,900 O Ho: M S 53,900 H : M > 53,900 Ho: M = 53,900 H : H # 53,900 Ho: M 2 53,900 H: H 53,900 Find the value of the test statistic. (Round your answer to three decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = State your decision and conclusion. O Do not reject Ho. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2013. O Reject Ho. There is sufficient evidence to conclude that the mean starting salary for business majors has increased in 2013. O Reject Ho. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2013. O Do not reject Ho. There is insufficient evidence to conclude that the mean starting salary for business majors has increased in 2013