Last Year,during an Investigation of the Time Spent Reading Emails

question 69

Essay

Last year,during an investigation of the time spent reading emails on a daily basis,researchers found that on Monday the average time was 50 minutes.Office workers claim that with the increased spam and junk mail,this time has now increased.To conduct a test,a sample of 25 employees is selected,with the following results: sample mean = 51.05 minutes and sample standard deviation = 4.42 minutes.Calculate the appropriate test statistic to test the hypothesis that the time has increased from last year.

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Definitions:

Profit-maximizing

The process of adjusting production and sales to achieve the highest possible profit.

Market Wage

The prevailing rate of pay for a specific job in a particular labor market.

Productivity

An indicator of how effectively resources are used in production, typically expressed as the proportion of produced goods to the resources consumed.

Competitive Industry

A competitive industry is one where numerous firms compete against each other to sell similar goods or services, often leading to innovation and lower prices for consumers.