Question

In order to determine whether or not there is a significant difference between the hourly wages...

In order to determine whether or not there is a significant difference between the hourly wages of two companies, the following data have been accumulated.

Company 1 Company 2
n1 =58 n2 =64
1 = $10.95 2 = $10.00
S1= $1.81 S2= $1.50

​The point estimate of the difference between the means (Company 1 – Company 2) is _____.

0 1
Add a comment Improve this question Transcribed image text
Answer #1

The point estimate of the difference between the means (Company 1 - Company 2) is: X1 - X2= 10.95-10.00 = $0.95 The point est

Add a comment
Know the answer?
Add Answer to:
In order to determine whether or not there is a significant difference between the hourly wages...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • a) b) In order to estimate if there is astatistical difference between the average hourly wages...

    a) b) In order to estimate if there is astatistical difference between the average hourly wages of employees of two branches of a department store, two independent random samples were selected and the following statistics were calculated. Downtown Store North Mall Store 25 20 Sample size Sample mean Sample standard deviation $9 $8 $2 $1 For alpha= 1, the null hypothesis should be rejected should not be rejected should be revised None of the answers is correct. A statistics teacher...

  • Construct the indicated confidence interval for the difference between the two population means. Assume that the...

    Construct the indicated confidence interval for the difference between the two population means. Assume that the assumptions and conditions for inference have been met. A researcher wishes to determine whether people with high blood pressure can reduce their blood pressure by following a particular diet. Use the sample data below to construct a 99% confidence interval for μ1-μ2, where H1 and H2 represent the population means for the treatment group and the control group, respectively. Treatment GolGroup n1 85 n2...

  • To construct an interval estimate for the difference between the means of two populations which are...

    To construct an interval estimate for the difference between the means of two populations which are normally distributed and have equal variances, we must use a t distribution with (let n1 be the size of sample 1 and n2 the size of sample 2) (n1 + n2) degrees of freedom (n1 + n2 - 1) degrees of freedom (n1 + n2 - 2) degrees of freedom (n1 - n2 + 2) degrees of freedom

  • A financial advisor wants to know whether there is a significant difference between the NYSE and...

    A financial advisor wants to know whether there is a significant difference between the NYSE and NASDAQ markets in the annual dividend rates for preferred stocks. A random sample of 20 returns is selected from each market. The data are given below. Test the claim that there is no difference in the annual dividend rates for the two markets. Use α = 0.10. NASDAQ 2.00 1.02 2.11 2.56 2.15 0.93 0.91 1.67 1.88 2.13 2.44 1.97 2.00 1.81 2.25 1.72...

  • Test the claim about the difference between the two population means µ1 and µ2 at the...

    Test the claim about the difference between the two population means µ1 and µ2 at the level of significance α. Important! Please remember to include all 5 parts of a hypothesis test mentioned in the module summary. Assume the samples are random and independent, and the populations are normally distributed. Exercise 5. Claim: /142; a = 0.05. Assume o o%. Sample statistics: = 97.6, s1 = 5.8, n1 = 33, T2 = 94.1,82 = 6.5, and n2 = 28 Exercise...

  • Two samples are taken with the following sample means, sizes, and standard deviations ¯ x1 x¯1...

    Two samples are taken with the following sample means, sizes, and standard deviations ¯ x1 x¯1 = 31 ¯ x2 x¯2 = 28 n1 n1 = 70 n2 n2 = 46 s1 s1 = 4 s2 s2 = 2 We want to estimate the difference in population means using a 89% confidence level. What distribution does this require? t, df = 108 z NOTE: The more accurate df formula, used above, is: df= ( s 2 1 n1 + s...

  • Consider the following results for independent random samples taken from two populations. Sample 1 Sample 2...

    Consider the following results for independent random samples taken from two populations. Sample 1 Sample 2 n1= 20 n2 = 40 x1= 22.1 x2= 20.6 s1= 2.9 s2 = 4.3 a. What is the point estimate of the difference between the two population means (to 1 decimal)? b. What is the degrees of freedom for the t distribution (round down)? c. At 95% confidence, what is the margin of error (to 1 decimal)? d. What is the 95% confidence interval...

  • A client wants to determine whether there is a significant difference in the time required to complete a program evaluat...

    A client wants to determine whether there is a significant difference in the time required to complete a program evaluation with the three different methods that are in common use. Suppose the times (in hours) required for each of 18 evaluators to conduct a program evaluation follow. Method 1 Method 2 Method 3 66 64 56 73 72 69 65 75 68 77 66 59 79 74 58 74 70 64 Use α = 0.05 and test to see whether...

  • the following results for independent random samples taken from two populations. Sample 1 Sample 2 n1-10...

    the following results for independent random samples taken from two populations. Sample 1 Sample 2 n1-10 n2-30 x1-22.5 x2 20.6 S1-2.5 S2 4.9 a, What is the point estimate of the difference between the two population means (to 1 decimal)? b. What is the degrees of freedom for the t distribution (round down your answer to nearest whole number)? c. At 95% confidence, what is the margin of error (to 1 decimal)? d. What is the 95% confidence interval for...

  • Find a 95 percent confidence interval for the difference between means, where n1 = 50, n2...

    Find a 95 percent confidence interval for the difference between means, where n1 = 50, n2 = 36, X1 = 80, X2 = 75, sı2 = 5, and s22 = 3. Assume unequal variances. Essay Toolbar navigation B 1 U s 를 들 를 А When we test Ho: M1 - u2 SO, HA: M1 – u2 >0, X1 = 15.4, X 2 = 14.5, si = 2, s2 = 2.28, n1 = 35, and n2 = 18 at a=.01,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT