A Fast Food Company Uses Two Management-Training Methods

question 34

Short Answer

A fast food company uses two management-training methods.Method 1 is a traditional method of training,and Method 2 is a new and innovative method.The company has just hired 31 new management trainees.15 of the trainees are randomly selected and assigned to the first method,and the remaining 16 trainees are assigned to the second training method.After three months of training,the management trainees take a standardized test.The test was designed to evaluate their performance and learning from training.The sample mean score and sample standard deviation of the two methods are given below.The management wants to determine if the company should implement the new training method. What is the absolute value of the rejection point (critical value of the test statistic)at α = .01?

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Definitions:

Floating Exchange Rates

A system in which currency values are allowed to fluctuate according to foreign exchange market mechanisms without direct intervention by the country’s government.

Interest Rates

The cost of borrowing money, typically expressed as a percentage of the amount loaned, which lenders charge borrowers.

Demand For Pounds

The desire or need for a given amount of a commodity, such as currency or weight, by consumers or businesses.

Appreciate

To increase in value or price over time.