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In order to determine whether or not there is a significant difference between the mean hourly wages paid by two companies (of the same industry), the following data have been accumulated.   Company A Company B Sample size 70 55 Sample mean $15.75 $14.75 Sample standard deviation $1.00 $0.95 Find a point estimate for the difference between the two population means. answer choices: 0.05 1.00    2.00 15.00

In order to determine whether or not there is a significant difference between the mean hourly wages paid by two companies (of the same industry), the following data have been accumulated.   Company A Company B Sample size 70 55 Sample mean $15.75 $14.75 Sample standard deviation $1.00 $0.95 Find a point estimate for the difference between the two population means. answer choices: 0.05 1.00    2.00 15.00

MATLAB: An Introduction with Applications
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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In order to determine whether or not there is a significant difference between the mean hourly wages paid by two companies (of the same industry), the following data have been accumulated.
  Company A Company B
Sample size 70 55
Sample mean $15.75 $14.75
Sample standard deviation $1.00 $0.95
Find a point estimate for the difference between the two population means.
answer choices:
0.05
1.00  
 2.00
15.00
Expert Solution
Step 1

From the provided information,

Sample size (n1) = 70 and n2 = 55

Sample mean (x̄1) = $15.75 and x̄2 = $14.75

Sample standard deviation (s1) = $1.00 and s2 = $0.95

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