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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 A

Company B
Sample size

180

160
Sample mean

$16.75

$16.25
Population standard deviation

$1.50

$1.95



Refer to Exhibit 5. At 95% confidence level, the null hypothesis

Math   Statistics-And-Probability   
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Homework Answers

Answer #1
X1 bar 16.75 X2 bar 16.25
S1 1.5 S2 1.95
n1 180 n2 160
Hypothesis : α= 0.05
Ho: μ1​ = μ2
Ha: μ1​ not = μ2
Z Critical Value :
Zc 1.959963985 +/-   NORM.S.INV(α/2) TWO
Zs < for - Zc TWO To reject
Zs > for + Zc TWO To reject
Test :
Z 2.625562864 (X1 bar-X2 bar )/SQRT(S1^2/n+S2^2/n)
P value :
P value 0.008650583 2*(1-NORM.S.DIST(z,true)) TWO
Decision :
P value < α Reject H0

There is enough evidence to conlude that there is a significant difference between the hourly wages of two companies

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