A Random Sample of 15 Hourly Wages for Waitresses (Including

question 1

Short Answer

A random sample of 15 hourly wages for waitresses (including tips) was drawn from a normal population. The sample mean and sample standard deviation were computed as = $14.9 and s = $6.75. Can we infer at the 5% significance level that the population mean is greater than 12?
Test statistic = ______________
Critical Value(s) = ______________
Conclusion: ______________
Interpretation: ______________
Can we infer at the 5% significance level that the population mean is greater than 12, assuming that you know the population standard deviation is equal to 6.75?
Test statistic = ______________
Critical Value(s) = ______________
Conclusion: ______________
Interpretation: ______________

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Definitions:

Holder

An individual or entity that possesses or owns a particular document, often used in the context of financial instruments.

Payable to Bearer

A financial instrument or document that allows the person in possession (the bearer) to receive the assets specified therein, without the need to prove identity.

Identified Person

An individual who has been recognized or singled out from others based on specific criteria or identifiers.

Indorsed

means to have a signature added to the back of a financial instrument, thereby authorizing its use or transfer to another party.