Consider the Following to Answer the Question(s) Below

question 3

Multiple Choice

Consider the following to answer the question(s) below:
Data were collected on annual personal time (in hours) taken by a random sample of 16 women and 7 men employed by a medium sized company. The women took an average of 24.75 hours of personal time per year with a standard deviation of 2.84 hours. The men took an average of 21.86 hours with a standard deviation of 3.29 hours. The Human Resources Department believes that women tend to take more personal time than men because they tend to be the primary child care givers in the family.
-At α = 0.05,

• A) we reject the alternative hypothesis.
• B) we fail to reject the null hypothesis.
• C) we can conclude that women take a smaller average number of hours of personal time per year compared to men.
• D) we reject the null hypothesis. There is strong evidence that women take a higher average number of hours of personal time per year compared to men.
• E) there is no evidence of a difference in the true average number of hours of personal time taken by women and men.

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Definitions:

Monetary Rule

A guideline for the monetary policy stating that the central bank should aim at regulating the money supply to maintain stable prices, output, and employment.

Rational Expectations

An economic theory proposing that individuals make decisions based on their best forecast using all available information, predicting future events with some degree of accuracy.

Federal Reserve

The central bank of the United States, responsible for monetary policy.

Life Expectancy

The average period that an organism is expected to live, based on statistical analysis.