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Rock Adventures has 15 employees each working 40 hours per week and earning $30 an hour.Federal income taxes are withheld at 15% and state income taxes at 6%.FICA taxes are 7.65% and unemployment taxes are 3.8% of the first $7,000 earned per employee.What is the employer's total payroll tax expense for the first week of January?
Alternative Hypothesis
The hypothesis that there is a significant difference between specified populations, any observed difference being due to sampling or experimental error.
Confidence Interval
A range of values that is likely to contain a population parameter with a certain level of confidence.
Null Hypothesis
A default hypothesis that there is no effect or no difference, and the observed outcomes are due to chance; it is the hypothesis tested for possible rejection in statistical analysis.
Hypothesized Value
A specified value in hypothesis testing which is assumed for the sake of argument or investigation.
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