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Author Question: Exhibit 10-8In order to determine whether or not there is a significant difference between the ... (Read 46 times)

kmcolvin

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on: Mar 25, 2023

Question 1

Exhibit 10-8
In order to determine whether or not there is a significant difference between the hourly wages of two companies, the following data have been accumulated.

 

 

Company A

Company B

Sample size

80.00

60.00

Sample mean

$16.75

$16.25

Population standard deviation

$1.00

$0.95


Refer to Exhibit 10-8. The test statistic is


◦

0.098


◦

1.645


◦

2.75


◦

3.01



Question 2

Exhibit 10-8
In order to determine whether or not there is a significant difference between the hourly wages of two companies, the following data have been accumulated.

 

 

Company A

Company B

Sample size

80.00

60.00

Sample mean

$16.75

$16.25

Population standard deviation

$1.00

$0.95


Refer to Exhibit 10-8. The p-value is


◦

0.0013


◦

0.0026


◦

0.0042


◦

0.0084

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by kmcolvin on Mar 25, 2023

saly

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Reply #1 on: Mar 25, 2023
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kmcolvin

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Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

Missbam101

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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