Posted: November 9th, 2016

Can we conclude at the 10% level of significance that this company’s average hourly wage is less than that of the entire industry?

Suppose that hourly wage in the chemical industry are normally distributed, with a mean of $7.60 and a standard deviation of $0.60. A large company in this industry took a random sample of 50 of its workers and determined that their average hourly wage was $7.50. Can we conclude at the 10% level of significance that this company’s average hourly wage is less than that of the entire industry?

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