A Simple Random Sample of Ten Firms Was Asked How

question 67

Essay

A simple random sample of ten firms was asked how much money (in thousands of dollars) they spent on employee training programs this year and how much they plan to spend on these programs next year. The data are shown below. $$\begin{array} { l r r r r r r r r r r } \text { Firm } & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 & 10 \\\text { This year } & 25 & 31 & 12 & 15 & 21 & 36 & 18 & 5 & 9 & 17 \\\text { Next year } & 21 & 30 & 18 & 20 & 22 & 36 & 20 & 10 & 8 & 15\end{array}$$ Assume that the populations of amount spent on employee training programs are normally distributed.
Can we infer at the 5% significance level that more money will be spent on employee training programs next year than this year?

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Definitions:

Self-Transcendence

The ability to go beyond one's own self-interests, limitations, and experiences to connect with something greater and more meaningful.

Conscientiousness

A personality trait characterized by organization, dependability, and discipline.

Neuroticism

A personality trait involving a long-term tendency to be in a negative emotional state, such as anxiety, depression, and emotional instability.

Big Five Trait Dimension

A psychological framework that characterizes human personality using five wide-ranging dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.