Exhibit 10-13 in Order to Determine Whether or Not There Is a Is

question 110

Multiple Choice

Exhibit 10-13
In order to determine whether or not there is a significant difference between the hourly wages of two companies, the following data have been accumulated.
-Refer to Exhibit 10-13. The point estimate of the difference between the means is

• A)20
• B)0.8
• C)0.50
• D)-20

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Definitions:

Sample Size

The number of observations or data points collected or selected from a population for the purpose of statistical analysis.

Degrees of Freedom

The number of independent pieces of information in a dataset that are available for estimating another piece of information or parameter.

Confidence Interval

A band of values, derived from the statistical examination of samples, presumed to include the value of an unascertained population parameter.

T-Distribution

A probability distribution used in statistics that is applicable when the sample size is small and the population variance is unknown.