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Preliminary data analyses indicate that it is reasonable to use a t-test to carry out the specified hypothesis test. Performthe t-test using the critical-value approach.
-In one state, the mean time served in prison by convicted burglars is 18.7 months. A researcher would like to perform a hypothesis test to determine whether the mean amount of time served by convicted burglars in her hometown is different from 18.7 months. She takes a random sample of 11 such cases from court files in her home town and finds that = 21 months and s = 7 months. Use a 5% significance level to perform the test.
Productivity of Labor
The output per labor hour or the efficiency with which labor is utilized in the production process.
Monopsonist
An entity that is the only buyer in a market, giving it significant control over the price and terms of purchase of goods or services.
Upsloping Supply Curve
A supply curve that shows an increase in quantity supplied as the price increases, indicating a direct relationship between price and quantity supplied.
Agency Shop
A place of employment where the employer may hire either labor union members or nonmembers but where those employees who do not join the union must either pay union dues or donate an equivalent amount of money to a charity.
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