Compute P-Value in this equation
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Compute P-Value in this equation

[From: ] [author: ] [Date: 11-12-20] [Hit: ]
饾渿=40, 饾湈=10, Xbar=43 and 饾浖=0.z=3/1.25=2.The p-value is the area to the right of the value 2.......
a sample of 64 people were selected. It was determined that the avg wage of each person per day in the sample was $43. The population standard deviation is $10.

question= use a 5% level of significance to determine whether or not the avg wage is significantly different from $40 using the p-value approach.

what is the p-value in this equation?

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You have n=64, 饾渿=40, 饾湈=10, Xbar=43 and 饾浖=0.05

z=(Xbar-饾渿)/(饾湈/sqrt(n))

z=(43-40)/(10/sqrt(64))


z=3/1.25=2.4

The p-value is the area to the right of the value 2.4.From the table you get

P(z>2.4)=1-P(z<2.4)=1 - 0.9918=0.0082

The hypothesis is


H0:饾渿=40

Ha:饾渿鈮?0(claim)

Since the p-value is less than 0.05 we reject H0.So there is enough evidence to support the claim that the avg wage is significantly different from $40 .
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