Faced with rising fax costs, a firm issued a guideline that transmissions of 10 pages or more should be sent by 2-day mail instead. Exceptions are allowed, but they want the average to be 10 or below. The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages. (a) At the .01 level of significance, is the true mean greater than 10? (b) Use Excel to find the right-tail p-value.

a) The calculated value   t =  5.903 > 2.572 at 0.01 level of significance

Null hypothesis is rejected at 0.01 level of significance

There is a true mean value is less than 10

b) p - value  0.00001

The p - value 0.00001  < 0.01

The result is significant at p<0.01

Step-by-step explanation:

Step(i):-

Given mean of the population = 10

Sample size 'n'= 35

Mean of the sample x⁻ = 14.44

Standard deviation of the sample 's' = 4.45

Level of significance ∝ = 0.01

Step(ii):-

Null Hypothesis H₀ : μ >10

Alternative Hypothesis : H₁ : μ < 10

Test statistic

               t =  5.903

Degrees of freedom = n-1 = 35-1 = 34

tabulated value t₀.₀₁,₃₄  = 2.572

The calculated value   t =  5.903 > 2.572 at 0.01 level of significance

Null hypothesis is rejected at 0.01 level of significance

There is a true mean value is less than 10

p- value :

p - value  0.00001

The p - value 0.00001  < 0.01

The result is significant at p<0.01

why do wages differ across industries

step-by-step explanation :

micro economists are concerned with economics on an industry or individual firm basis.

macro economists are concerned with national and international level

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