The mean hourly wage for employees in goods-producing industries is currently $2

Question

The mean hourly wage for employees in goods-producing industries is currently $24.57 (Bureau of Labor Statistics website, April, 12, 2012). 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 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.

Choose correct answer from above choice

State the 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.

Choose correct answer from above choice

b. Suppose a sample of 30 employees from the manufacturing industry showed a sample mean of $23.89 per hour. Assume a population standard deviation of $2.40 per hour and compute the p-value. Round your answer to four decimal places.

c. With = .05 as the level of significance, what is your conclusion?

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.

Explanation / Answer

a) 1, 1

b) 0.99

c) 1.96

d) by using the alpha 0.05 we conclude that the population mean differs from 24.57

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