One Sample Hypothesis Testing
The significance of earnings is a growing façade in today’s economy. Daily operation, individuals, and families alike rely heavily on each sale or paycheck to provide financial stability throughout. Depending on the nature of labor, wages are typically compensated in accords to one’s experience and education or specialization. Moreover, calculating the specified industry, occupation title, education, experience on-the-job, gender, race, age, and membership to a union will additionally influence wages. To help analyze operation pay scales and remain within budget a business should obtain data pertaining to current variations in wage. Today statistics allow a business or businesses to do so in a timely and proficient manner. The purpose of the succeeding report is to communicate a hypothesis statement regarding the wages of Hispanics and Caucasian workers. Team B would like to determine whether race has an influence on the wage of these specific workers. Team B will convey this data of wages in both a numerical and verbal manner. Moreover, it is to describe and perform the five-step hypothesis test on the wages and wage earner data set, including data tables and results of the computations of a z-test or t-test by way of graphical and tabular methods. Also the paper will depict the results of all testing and convey how the results given Team B’s hypothesis testing may be used to answer the research question. Hypotheses
Learning Team B’s verbal hypothesis question asks “Does the mean salary of a Hispanic worker exceed thirty thousand dollars and that of the mean salary of a Caucasian worker?” The numerical question used for our hypothesis test is µ > $30,000. Another numerical question is µ1>µ2. µ1 is defined as the sample mean of Hispanic workers salaries and µ2 defined as the sample mean of Caucasian workers salaries. The Hispanic sample population is six workers from the “Wages and Wage Earners Data Set.” Learning Team B...
Please join StudyMode to read the full document