A company claims that the mean monthly salary for their managers is 8 thousand dollars. A sample of 100 managers has a mean monthly salary of 7.5 thousand dollars with a standard deviation of 1.9 thousand dollars. You want to perform a hypothesis test challenge the validity of the claim made by the company, at a significance level of α=0.10α=0.10. Your hypotheses are: Ho:μ=8,000Ho:μ=8,000 Ha:μ<8,000Ha:μ<8,000 (a) Find the test statistic, rounded to 4 decimal places. Test Statistic = (b) FInd the p-value, rounded to 4 decimal places.

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A company claims that the mean monthly salary for their managers is 8 thousand dollars.
A sample of 100 managers has a mean monthly salary of 7.5 thousand dollars with a standard deviation of 1.9 thousand dollars. You want to perform a hypothesis test challenge the validity of the claim made by the company, at a significance level of α=0.10α=0.10.


Your hypotheses are:

Ho:μ=8,000Ho:μ=8,000

Ha:μ<8,000Ha:μ<8,000

(a) Find the test statistic, rounded to 4 decimal places.

Test Statistic =

(b) FInd the p-value, rounded to 4 decimal places.

p-value =

 

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