COURSE:
MSCI 3710
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Exam 1
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View Full DocumentUse the information given in the paragraph below to answer the next
five
questions.
(Kvanli Chapter 8)
Hourly wages in a retailing industry are normally distributed with a mean of $14.50 and a
standard deviation of $2.20. A random sample of 40 workers was taken from a firm belonging to
this industry. The sample average hourly wage was $13.30. Test whether this company can be
accused of paying lower wages, compared to the industry average.
1.
What are the null hypothesis and alternative hypothesis for this test?
A. Ho:
μ
= 14.50
Ha:
μ
≠
14.50
B. Ho:
μ ≥
14.50
Ha:
μ
< 14.50 *
C. Ho:
μ
= 13.30
Ha:
μ
≠
13.30
D. Ho:
μ
> 13.30
Ha:
μ
≠
13.30
E. Ho:
μ
= 13.30
Ha:
μ
< 13.30
2.
The appropriate test statistic for testing the hypothesis as defined in question #1 is
A.
t, because the sample size is small
B.
t because the sample standard deviation was calculated
C.
Z because the population standard deviation is known *
D.
Z because the sample variance was provided
E.
F because we do not know the equality of the variance
3.
What is the calculated value of the test statistic?
A. % 0.55
B.
1.20
C.  3.45 *
D.
3.45
E.  3.53
4.
Assuming
the calculated value of the test statistic is
1.00
, what are the decision and
conclusion of the test at the significance level of
0.01
?
A. Fail to reject the null hypothesis, conclude there is evidence the company pays more than
the industry average.
B. Fail to reject the null hypothesis, conclude there is insufficient evidence the company’s
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 Spring '09
 staff
 Statistics, Standard Deviation, Null hypothesis, Statistical hypothesis testing

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