[Solution] You think you are earning significantly less than you should be in your job. Before you bring this issue up to your boss, you wish to perform
Question: You think you are earning significantly less than you should be in your job. Before you bring this issue up to your boss, you wish to perform a test of significance on the mean income of your particular field.
- First, get a simple random sample of 31 incomes in your field. Note: You can make up these 31 values, you do not have to look them up unless you want to. List the data values.
- What is the mean of your simple random sample?
- What is the standard deviation of the simple random sample?
- What is your income? You can make up a number representing your income if you want.
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Use the information above to test your claim that you are earning significantly less than you believe you should be earning. Use alpha = 0.05. Use the step by step process as shown in the Chp. 9 homework. As a reminder, the process is:
- Write H 0 and H 1
- Find the critical value(s) and test statistic. Also, find the P-value if it’s a Z distribution.
- Provide a sketch and properly label it as Z, t or \[{{\chi }^{2}}\] with the critical value and test statistic also labeled on the sketch.
- Do you reject H 0 ? Why or why not?
- Write the conclusion in full sentences.
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