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Nancy believes that the average running time of movies is equal to 140 minutes. A sample of 4 movies was taken and the following running times were obtained. Assume the population of the running times is normally distributed.150
150
180
170
a.Compute the sample mean and the standard deviation.
b.State the null and alternative hypotheses.
c.Using the critical value approach, test the hypotheses at the 10% level of significance.
d.Using the p-value approach, test the hypotheses at the 10% level of significance.
Internal Labor Force
An organization's workers (its employees and the people who have contracts to work at the organization).
External Labor Market
The job market outside of a specific company, inclusive of potential employees who currently work for other employers or are unemployed.
Workforce
The collective group of individuals who are available for work, including both employed and unemployed persons.
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