A Company Has Claimed That the Standard Deviation of the Monthly

question 107

Essay

A company has claimed that the standard deviation of the monthly incomes of their employees is less than or equal to $120. To test their claim, a random sample of 15 employees of the company was taken; and it was determined that the standard deviation of their incomes was $135. At a 5% level of significance, test the company's claim.

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Definitions:

Behavioral Medicine

An interdisciplinary field combining both medical and psychological approaches to address and treat health problems.

Salutary Medicine

Relates to the practice of promoting health and well-being through preventive, curative, and rehabilitative measures; often focused on holistic care.

Cancer

A broad group of diseases characterized by the uncontrolled growth and spread of abnormal cells that can result in death if not treated.

Tuberculosis

A contagious bacterial infection primarily affecting the lungs, causing coughing, fever, and difficulty breathing.