Question
The CEO of 3M believes that on the average employees work less than 50 hours per...
The CEO of 3M believes that on the average employees work less than 50 hours per week. A small simple random sample of employees provided the following weekly working hours.
|
Weekly Hours Xi |
|
47 |
| 50 |
| 51 |
| 48 |
| 49 |
| 46 |
| 50 |
| 51 |
a. Compute the point estimates of population average (sample average) and standard deviation (sample standard deviation) of weekly working hours of all employees at 3M. You need to show all of your computations in the table below.
b. Using an alpha (α) of 0.05, what is your conclusion about the CEO's claim? What is the value of test statistic? What is the p-value? Explain your hypotheses (null and alternative), decision rule, and conclusion in the context of this problem and in plain English.
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