A Government Agency Claims That the Median Hourly Wages for Workers

question 42

Multiple Choice

A government agency claims that the median hourly wages for workers at fast food restaurants in the western U.S. is $6.55. In a random sample of 100 workers, 68 were paid less than $6.55, 10 were paid
$6.55, and the rest more than $6.55. Find the test statistic z to test the governmentʹs claim.

• A)-4.743
• B)-3.912
• C)-3.187
• D)-2.386

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Definitions:

Revenue Recognition

Accounting principle determining the specific conditions under which revenue is recognized or recorded.

Production

The process by which raw materials are transformed into finished goods through the use of labor, machinery, and processes.

Customization

The process of modifying or building a product, service, or system according to individual or customer requirements.