The Mean Gross Annual Incomes of Certified Tack Welders Are

question 83

Multiple Choice

The mean gross annual incomes of certified tack welders are normally distributed with the mean of $50,000 and a standard deviation of $4,000. The ship building association wishes to find out whether their tack welders earn more or less than $50,000 annually. The alternate hypothesis is that the mean is not $50,000. When tested at the 99% level, these are the results found with megastat:

• A) Since the p-value is 0.43 at this level of testing, there is insufficient evidence to say that the welders earn an income different from $50,000.
• B) Since the p-value is 0.43 at this level of testing, there is sufficient evidence to say that the welders earn more than $50,000.
• C) The p-value of 0.043 indicates that there is sufficient evidence to say that the welders earn more than $50,000.

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Definitions:

Financing Statement

A document filed to give public notice typically of a secured transaction involving personal property, which helps establish the priority of the filer's interest in the property.

Collateral

Assets pledged by a borrower to secure a loan or guarantee repayment, which can be seized in case of default.

Creditor's Name

The name of an individual or entity to whom money is owed or who has provided credit to another party.

Debtor's Name

The legal name of an individual or entity that owes money to a creditor or lender.