Consider the following results for two samples randomly taken from two populations.
a.Determine the degrees of freedom for the t distribution.
b.Develop a 95% confidence interval for the difference between the two population means.
Definitions:
Real Hourly Wages
The hourly wage of workers adjusted for inflation, representing the purchasing power of the income.
Real Wages
Wages adjusted for inflation, giving a true measure of the purchasing power of earned income over time.
Hourly Wage
The amount of money paid to an employee for every hour worked.
Fringe Benefits
Nonwage compensation, mainly medical insurance, that workers receive from employers.
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