Standard rate of pay 40 hours. Gets 175% for overtime. One week Erik works regular 40 hours and has 16 hours of overtime. He makes $680 that week. Which equation would solve for the standard rate of pay?
It would be the first option
Answer:
A. The first equation is for sample data; the second equation is for a population.
Step-by-step explanation:
The first equation is y = 
, this is the equation for sample data as the intercept (
) and the slope parameter(
) both are calculated then we have got this and these values are not taken as given.
The Second equation is 
, this is the equation for population data as we can't calculate these 
and 
as we take these values as given and also we do testing for 
parameter using t test and it is sure that testing is always done on population data not on sample data.
