A Large Company Has Claimed That the Standard Deviation of the Monthly

question 3

Essay

A large company has claimed that the standard deviation of the monthly incomes of their employees is less than or equal to $120.To test their claim, a random sample of 76 employees of the company was taken; and it was determined that the standard deviation of their incomes was $135.Using α = .10, test the company's claim.

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Definitions:

Crazes

Intense but short-lived fads or trends that capture a large following or great enthusiasm for a brief period.

Fads

Temporary, highly popular trends or behaviors that spread quickly and are followed with enthusiasm, but fade away just as quickly.

Demographic Shifts

Changes in the characteristics of a population over time, which can include age, ethnicity, gender distribution, and so forth.

Social Change

The transformation of culture, behavior, social institutions, and social structure over time, often seen as a necessary aspect of societal progress or development.