SOLUTION: You are the Vice President for Human Resources at XYZ Investment Management, Inc. Your employees have recently complained about their long working hours. You collected a sample of

Question 132780: You are the Vice President for Human Resources at XYZ Investment Management, Inc. Your employees have recently complained about their long working hours. You collected a sample of 49 timesheets and calculated an average of 41.5 hours with a standard deviation of 2.5 hours. Using a significance level of 0.01, can you conclude that your employees work more than 40 hours per week?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
You collected a sample of 49 timesheets and calculated an average of 41.5 hours with a standard deviation of 2.5 hours. Using a significance level of 0.01, can you conclude that your employees work more than 40 hours per week?
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Ho: mu = 40
Ha: mu > 40 (Claim)
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Critical value for one-tail T-test with alpha=1% and df= 48 = 2.326
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Test statistic: t(41.5) = (41.5-40)/[2.5/sqrt(49)] = 4.2
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p-value = P(4.2 < t < 10)= 0.000057539...
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p-value is significantly less than alph, so reject Ho.
The test supports acceptance of the Claim.
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Cheers,
Stan H.
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