Exhibit 13-5 
-In theory, minimum wage laws create shortages in the labor market.
Definitions:
Population Means
The average value of all the data points in a population, representing a central tendency of the population data.
Confidence Interval
A variety of values coming from collected sample information, presumed to hold the value of an unknown parameter within the population.
Service Time
Service time refers to the amount of time required to complete a particular task or service, often used in the context of customer service or manufacturing.
Sample Means
The average value of a set of observations taken from a population, used as an estimate of the population mean.
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