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Suppose Wall Street securities firms claim that they paid out year-end bonuses of an average of...

Suppose Wall Street securities firms claim that they paid out year-end bonuses of an average of $95,000 per employee last year. We take a sample of employees at the ASBE securities firm to see whether the average year-end bonus is less than the reported mean of $95,000 for the population.You wish to test the following claims at a significance level of α = 0 .05.H0: μ = $95,000Ha: μ < $95,000You believe the population is normally distributed and you know the population standard deviation is 1800. You obtain a sample mean of $94,575 for a sample of size 42.

a)What is the test statistic for this sample (use at least 3 decimal places)?

b) What is the p-value for this sample? (use Statcrunch)

c) Evaluate the strength of the evidence and state the conclusion (in the context of this question)

Math   Statistics-And-Probability   
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