An Economist Is Investigating the Impact of Today's Economy on Workers

question 33

Short Answer

An economist is investigating the impact of today's economy on workers in the manufacturing industry who have been laid off. A sample of 50 workers was randomly selected from all workers in manufacturing that have been laid off in the past year. The following variables were measured for each laid off worker: length of time jobless (number of weeks) and tax status (single, married, or married/head of household). The data for the 50 workers were entered into the computer and analyzed to determine if the mean number of weeks jobless differed for the three tax status groups. The Tukey multiple comparison printout is shown below: Tukey HSD All-Pairwise Comparisons Test of JOBLESS by STATUS
$\begin{array}{lcc}\text { STATUS } & \text { Mean } & \text { Tukey Groups } \\\text { Married } & 50.375 & \text { A } \\\text { Single } & 48.000 & \text { A } \\\text { Mar/Head } & 33.789 & \text { B }\end{array}$

Alpha $0.1 \quad$ Critical Q Value 2.975

Give the population mean(s) which are in the statistically smallest group.
A) $\mu \mathrm { Mar } / \mathrm { Head }$
B) $\mu _ { \text {Married } }$
C) $\mu$ Single
D) $\mu$ Married & $\mu$ Single

• A) \(\mu \mathrm { Mar } / \mathrm { Head }\)
• B) \(\mu _ { \text {Married } }\)
• C) \(\mu\) Single
• D) \(\mu\) Married & \(\mu\) Single

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Definitions:

Cost of Goods Available

The total cost of goods a company has to sell during a specific period, calculated by adding the beginning inventory to the cost of goods purchased.

Purchase Returns

Refers to the process of returning goods previously bought to the supplier due to various reasons like defects or dissatisfaction.

Freight-In

The cost associated with transporting goods into a business, which is often added to the cost of inventory.

Cost of Goods Sold

The direct financial outlays related to producing the products that a company sells.