Answered: Assume the hourly wage rate for a…

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

Assume the hourly wage rate for a fast-growing online job is normally distributed with a mean of μ=$26.10μ=$26.10. Suppose a random sample of n=28n=28 workers revealed a mean wage of ¯x=$25.31x¯=$25.31 with a standard deviation of s=$1.61s=$1.61.

At α=0.01α=0.01, is there enough evidence to conclude that the mean hourly wage is less than $26.10$26.10?

1) The p-value of this test is (3 decimal places) =

2) What is the difference between observed sample mean and claimed population mean? (Provide only the number with 2 decimal places)

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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