Females, It Is Said, Make 70 Cents to the Dollar

question 22

Essay

Females, it is said, make 70 cents to the dollar in the United States.To investigate this
phenomenon, you collect data on weekly earnings from 1,744 individuals, 850 females
and 894 males.Next, you calculate their average weekly earnings and find that the
females in your sample earned $346.98, while the males made $517.70.
(a)Calculate the female earnings in percent of the male earnings.How would you test
whether or not this difference is statistically significant? Give two approaches.

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Definitions:

Organizational Structure Innovation

The process of redesigning an organization's structure, roles, and processes in innovative ways to adapt to changing environments, improve efficiency, and foster growth.

Process Innovation

Refers to significant improvements in the way an organization conducts its business, aiming to achieve better efficiency, effectiveness, and performance.

Sunk-cost Fallacy

The misconception that one should continue on a course of action because they have already invested resources (time, money, effort), regardless of the current and future costs.

Programmed Decisions

Decisions that are routine and repetitive, often made using predetermined rules and procedures.