Answered: A steel company is considering the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

A steel company is considering the relocation of one of its manufacturing plants. The company’s executives have selected four areas that they believe are suitable locations. However, they want to determine if the average wages are significantly different in any of the locations, since this could have a major impact on the cost of production. A survey of hourly wages of similar workers in each of the four areas is performed with the following results. Do the data indicate a significant difference among the average hourly wages in the three areas?

Hourly Wages ($)

Area 1	Area 2	Area 3
10	20	15
12	25	16
8	12	22
13	18	13
9	14	15
24	15	15
13	20	19
13	22	15

Step 1 of 2:

Find the value of the test statistic to test for a difference in the areas. Round your answer to two decimal places, if necessary.

Step 2 of 2:

Make the decision to reject or fail to reject the null hypothesis of equal average hourly wages in the three areas and state the conclusion in terms of the original problem. Use α=0.10.

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