A Simple Random Sample of 100 Postal Employees Is Used

question 85

Multiple Choice

A simple random sample of 100 postal employees is used to test if the average time postal employees have worked for the postal service has changed from the value of 7.5 years recorded 20 years ago.The sample mean was = 7 years with a standard deviation of s = 2 years.Assume the distribution of the time the employees have worked for the postal service is approximately Normal.The hypotheses being tested are H₀:  = 7.5 versus H_a:   7.5.A one-sample t test will be used.What is the P-value for the one-sample t test?

• A)P-value < 0.01
• B)0.01 < P-value < 0.05
• C)0.05 < P-value < 0.10
• D)P-value > 0.10

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Definitions:

Common Stock

A kind of ownership stake in a company that allows holders to participate in voting on company issues and to earn dividends.

Dividends Per Share

The total dividends declared by a company for each share of common stock owned.

Cumulative Preferred Stock

A type of preferred stock that entitles its holder to dividends that, if not paid, accumulate and must be paid out before any dividends can go to common stockholders.

Common Stock

A type of equity security that represents ownership in a corporation, providing voting rights and a share in the company's profits via dividends.