Access the hourly wage data on the below Excel Data File (HourlyWage). An economist wants to test if the average hourly wage isless than $28. Assume that the population standard deviation is$8.
b-1. Find the value of the test statistic. (Negative valueshould be indicated by a minus sign. Round intermediatecalculations to at least 4 decimal places and final answer to 2decimal places.)
| Hourly Wage | Education | Experience | Age | Gender |
|---|
| 39.00 | 11 | 2 | 40 | 1 |
|---|
| 21.02 | 4 | 1 | 39 | 0 |
|---|
| 42.36 | 4 | 2 | 38 | 0 |
|---|
| 20.17 | 5 | 9 | 53 | 1 |
|---|
| 22.57 | 6 | 15 | 59 | 1 |
|---|
| 43.43 | 6 | 12 | 36 | 1 |
|---|
| 17.87 | 9 | 5 | 45 | 0 |
|---|
| 24.62 | 4 | 12 | 37 | 0 |
|---|
| 28.36 | 5 | 14 | 37 | 1 |
|---|
| 10.25 | 11 | 3 | 43 | 1 |
|---|
| 27.14 | 8 | 5 | 32 | 0 |
|---|
| 10.35 | 9 | 18 | 40 | 1 |
|---|
| 27.09 | 7 | 1 | 49 | 1 |
|---|
| 21.34 | 4 | 10 | 43 | 0 |
|---|
| 19.71 | 1 | 9 | 31 | 0 |
|---|
| 32.41 | 9 | 22 | 45 | 0 |
|---|
| 22.80 | 11 | 3 | 31 | 1 |
|---|
| 26.07 | 4 | 14 | 55 | 0 |
|---|
| 42.14 | 6 | 5 | 30 | 1 |
|---|
| 21.42 | 9 | 3 | 28 | 0 |
|---|
| 21.52 | 6 | 15 | 60 | 1 |
|---|
| 34.00 | 4 | 13 | 32 | 0 |
|---|
| 38.85 | 4 | 9 | 58 | 1 |
|---|
| 29.06 | 5 | 4 | 28 | 0 |
|---|
| 12.60 | 6 | 5 | 40 | 1 |
|---|
| 27.64 | 6 | 2 | 37 | 0 |
|---|
| 32.28 | 4 | 18 | 52 | 1 |
|---|
| 33.46 | 6 | 4 | 44 | 0 |
|---|
| 18.05 | 6 | 4 | 57 | 0 |
|---|
| 28.56 | 9 | 3 | 30 | 1 |
|---|
| 13.41 | 5 | 8 | 43 | 0 |
|---|
| 43.54 | 7 | 6 | 31 | 1 |
|---|
| 33.23 | 4 | 3 | 33 | 0 |
|---|
| 27.34 | 6 | 23 | 51 | 1 |
|---|
| 18.41 | 4 | 15 | 37 | 0 |
|---|
| 31.82 | 4 | 9 | 45 | 0 |
|---|
| 31.30 | 6 | 3 | 55 | 0 |
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