It Has Been Hypothesized That on Average Employees Spend One

question 142

Short Answer

It has been hypothesized that on average employees spend one hour a day playing video games at work. To test this at her company, a manager takes a random sample of 35 employees, who showed a mean time of 55 minutes per day with an assumed population standard deviation of 5 minutes. Calculate a confidence interval to test the hypotheses that the employees spend a different amount of time from one hour (60 minutes) at α = .02 and interpret.

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Definitions:

Tax

A compulsory monetary fee or a different kind of charge levied on a taxpayer by a government entity to finance government expenses and various public costs.

Buyers

Individuals or entities that purchase goods or services for consumption, use, or investment.

Total Surplus

The combined benefit that all participants (consumers and producers) receive in a market, represented by the sum of consumer and producer surplus.

Market Equilibrium

A condition in a market where the quantity demanded equals the quantity supplied, leading to a stable price.