Express the following as mentioned 15 paise as rupees
1 answer:
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Answer:
The<em> p</em>-value of the test is 0.1212.
Step-by-step explanation:
A one sample <em>z</em>-test can be performed to determine whether the mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries.
The hypothesis is defined as:
<em>H₀</em>: The mean hourly wage is same as the reported mean of $24.57 for the goods-producing industries, i.e. <em>μ</em> = $24.57.
<em>Hₐ</em>: The mean hourly wage differs from the reported mean of $24.57 for the goods-producing industries, i.e. <em>μ</em> ≠ $24.57.
The information provided is:
Compute the test statistic as follows:
The test statistic value is, <em>z</em> = -1.55.
Compute the <em>p</em>-value of the test as follows:
*Use a <em>z</em>-table for the probability.
Thus, the<em> p</em>-value of the test is 0.1212.
