17. Wall Street securities firms paid out record year-end bonuses of $125,500 per employee for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employ- ees at the Jones & Ryan securities firm to see whether the mean year-end bonus is different from the reported mean of $125,500 for the population. a. State the null and alternative hypotheses you would use to test whether the year-end bonuses paid by Jones & Ryan were different from the population mean. b. Suppose a sample of 40 Jones & Ryan employees showed a sample mean year-end bonus of $118,000. Assume a population standard deviation of or = $30,000 and com- pute the p-value. c. With a = .05 as the level of significance, what is your conclusion? d. Repeat the preceding hypothesis test using the critical value approach.
17. Wall Street securities firms paid out record year-end bonuses of $125,500 per employee for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employ- ees at the Jones & Ryan securities firm to see whether the mean year-end bonus is different from the reported mean of $125,500 for the population. a. State the null and alternative hypotheses you would use to test whether the year-end bonuses paid by Jones & Ryan were different from the population mean. b. Suppose a sample of 40 Jones & Ryan employees showed a sample mean year-end bonus of $118,000. Assume a population standard deviation of or = $30,000 and com- pute the p-value. c. With a = .05 as the level of significance, what is your conclusion? d. Repeat the preceding hypothesis test using the critical value approach.
MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Solution
![17. Wall Street securities firms paid out record year-end bonuses of $125,500 per employee
for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employ-
ees at the Jones & Ryan securities firm to see whether the mean year-end bonus is different
from the reported mean of $125,500 for the population.
a. State the null and alternative hypotheses you would use to test whether the year-end
bonuses paid by Jones & Ryan were different from the population mean.
b.
Suppose a sample of 40 Jones & Ryan employees showed a sample mean year-end
bonus of $118,000. Assume a population standard deviation of o= $30,000 and com-
pute the p-value.
C.
With a = .05 as the level of significance, what is your conclusion?
d. Repeat the preceding hypothesis test using the critical value approach.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc6c056d0-e2bc-4072-bff9-1cdfde09c6af%2F0d70a6b3-5767-4f6e-8025-1d4590ca6e73%2F3qj2qj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:17. Wall Street securities firms paid out record year-end bonuses of $125,500 per employee
for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employ-
ees at the Jones & Ryan securities firm to see whether the mean year-end bonus is different
from the reported mean of $125,500 for the population.
a. State the null and alternative hypotheses you would use to test whether the year-end
bonuses paid by Jones & Ryan were different from the population mean.
b.
Suppose a sample of 40 Jones & Ryan employees showed a sample mean year-end
bonus of $118,000. Assume a population standard deviation of o= $30,000 and com-
pute the p-value.
C.
With a = .05 as the level of significance, what is your conclusion?
d. Repeat the preceding hypothesis test using the critical value approach.
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