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In: Statistics and Probability

A prospective employee was told she could average more than $80 a day in tips. Assume...

A prospective employee was told she could average more than $80 a day in tips. Assume the standard deviation of the population is $3.24. Over the first 35 days the employee worked the mean daily amount of her tips was $84.85. At the .01 significance level what will be the value of the critical value if we are testing to see if the true average daily amount of tips is greater than $80?

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Expert Solution

We have given,

Alternative hypothesis is right tailed.

Z critical value =2.33.................by using Z table or Excel =NORMSINV(1-0.01)

orchestra answered 2 years ago
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