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Statistics - One Sample Hypothesis Testing

Using ratio or interval numerical data from the data set attached, develop the following:

1. Develop a research question
2. Formulate a research hypothesis and null hypothesis
3. Decide the type of test and level of significance
4. Calculate the standard error
5. Find the critical region
6. Perform the hypothesis test
7. Format graphs and tables to support the hypothesis
8. Compare the findings with the hypothesis

Attached: Wages and Wage Earners Data Set

Data Set Legend:

X1: Annual wage in dollars
X2: Industry (1=manufacturing, 2=construction, 0=other)
X3: Occupation (1=management, 2=sales, 3=clerical, 4=service, 5=professional, 0=other)
X4: Years of education
X5: Southern resident (0=no, 1=yes)
X6: Nonwhite (0=no, 1=yes)
X7: Hispanic (0=no, 1=yes)
X8: Female (0=no, 1=yes)
X9: Years of work experience
X10: Married (0=no, 1=yes)
X11: Age in years
X12: Union member (0=no, 1=yes)
100 observations


Solution Summary

A Complete, Neat and Step-by-step Solution is provided in the attached Excel file.