Answered: According to a workers Union, the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

According to a workers Union, the average monthly earning o support staff in the first half of 2018 was MVR 4325.89. MBA student Shujau wants to test to determine whether this figure is still accurate today. So he randomly selects 201 support staff from across the Maldives and obtains a representative earnings statement for a month from each. The resulting sample average is MVR 4889.86 with a standard deviation of MVR 2969.96. Assuming the monthly earnings of support staff are normally distributed in the population, Shujau wants to use a 5% level of significance to determine whether the mean monthly earnings of support staff have increased.

Clearly state your null and alternate hypothesis.
State the decision rule.
Show the calculation of the test statistic. Give your answer to 2 decimal places where appropriate.
State the statistical conclusion.
Give an example of how a shop owner could use this result in making a business decision.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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