In our industry on average a firm paid out record year end bonuses of $125,500 per...

In our industry on average a firm paid out record year end bonuses of $125,500 per employee for 2008. We would like to take a sample of employees at our firm to see whether the mean year end bonus is different from the reported mean of $125,500 for the population. We sample 40 of our employees and we had a mean of $118,000. Assume a population standard deviation of $30,000. Setup for the p-value and critical value approaches. We want to be 95% confident about our finding.

Rejection Region Critical Value = ?

How to answer it? I think I am in trouble

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orchestra answered 2 years ago

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In our industry on average a firm paid out record year end bonuses of $125,500 per...

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