Statistics discussion
Instructions
Employees from Company A and Company B both receive annual bonuses. What information would you need to test the claim that the difference in annual bonuses is greater than $100 at the 0.05 level of significance? Write out the hypothesis and explain the testing procedure.Must be explain in two paragraphs.
Answer
Statistics Discussion The most highly performing global organizations give bonuses at the end of the year as a way of motivating their employees. They use hypothesis as a way of determining the level of significance of the rewarding formula. It is done to ensure that there is fairness among the members of staff in terms of performance and reward. When the level of significance id greater at 0.05 or greater, the organization can accept the formula. The main information that is required to test the claim in differences in bonuses is the salaries for all the employees. The summation of the employees salaries is determined and divided by the total number of employees. This gives the mean salary for all the employees which gives a clear picture of where the statistical significance should ra...
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