The salaries of five employees at XYZ Brokerage are $30,000, $50,000, $60,000, $70,000, and $90,000. The industry salaries are normal, with a mean of $55,000 and standard deviation of $8,000. Can you conclude with a 5 percent level of significance that the salaries of workers in XYZ Brokerage are higher than that for the industry?
The number of accounts handled by a new company over the last six years has been 80,000, 140,000, 90,000, 110,000, 140,000, and 100,000, respectively. Forecast for the seventh period using linear regression. Find R-squared and note if your model is good or not.
The solution performs two hypothesis tests to test for the salaries at XYZ Brokerage and the accounts handled by a new company.