One Sample Hypothesis Test Essay Example for Free

One Sample dead reckoning Test EssayEarning potency and income of every person is severely different many factors control a hand in determining the amount of money a person reconstructs and how much his or her earning voltage can increase. Some of the factors currently determining the earning potential of people around the United States are education, married stance, age, union participation, race, age, years of experience, sex, the industry in which the individual works, and the position held by individual. This paper is going to limn the correlation between marital status and income, the team has disregarded all other determinants to answer the look for question clearly. The research question that the team has developed and the shot was formed from goes as follows does marital status affect earning potential? Every decade that passes, it seems as though people are waiting daylong to get get married. Waiting for job security, completion of college and social norms a re just a few factors that twine this trend.This is a big change from 50 years ago, when most people would get married like a shot out of high school. The fact is macrocosm single has some advantages when deciding to start a career, it everyplacely affects ones earning potential. Being single allows more dedication to the job as well as the mobility to go wheresoever the job may take an individual. While being single may be good for start a career, being married will actually increase a persons earning potential in the long run. The crocked salary for the single person is $24,864 per year. The mean income for married individuals is $33,303. This leads us to our inconstant hypothesis (H0) that being married will not improve the earning potential of an individual. Our alternate hypothesis (H1) is that being married will help improve the earning potential of an individual. Numerically it is statedH0 1 2H1 2 2The five-step hypothesis test starts with stating the invalid and a lternativehypothesis. The null is H0 12 and the alternative hypothesis is H1 12. The second step in find the decision rule. The decision rule is reject H0 if 1 2 1. Step 3 is to calculate the test statistics. It has come to the mean of the earning potential of those who are married and those who are unmarried. Married couples have a mean salary of $33,303.00 and unmarried individuals have a mean salary of $24,864.00. Step 4 is to compare the test statistics to the critical value. The test results in married couples have a greater income than the salaries of unmarried people. Step 5 is to state the results. In result, married couples have greater earning potential than that of their unmarried counterparts. Therefore, in this case the team has to reject their null hypothesis because they have ascertained a greater earning potential for married couples over unmarried individuals.The teams results provided support to the null hypothesis that a married individual has a higher earning pot ential than that of a single individual. As previously stated a single individual on average makes $25, 000 while married individuals make on average $34,000 a year. Our research also indicates more working individuals are married over single. Our sample only included 33 single and 67 married individuals. Our study also assemble non-married work force have charters that range from $11,000 to only $27,000 while non-married females wages range from $15,000 to $83,000. Married men have wages that range from $28,000 to $84,000, married women however only have wages that range from $11,000 to $50,000. This shows free-lance women with one sole income on average make more than men.However, after marriage, the men tend to catch the higher wage earner. Education does not appear to play a significant role it ranges from quadruple to 18 years. A married man with 18 years of education can make up to $84,000 while a single man also with 18 years of education only made $27,000. That is in co ntrast with a single woman with 17 years of education who make $83,000 a year and a married woman with 17 years of education who made $34,000. The maximum wage for a married woman was $50,000 and this was with 12 years of education. We analyzed many different aspects of earning potential and the legal age proves a married individual will make more than that of a single individual.With all of the quantitative data analyzed, the research question answered, and the hypothesis being correct, the team has been able to state confidently that marital status drastically affectsearning potential. On average, those who are married make nearly $8,500 more than those who are unmarried. some(prenominal) other factors determine the income potential differences, but without further analyses of data not provided in the data set, the team would just be throwing around assumptions on the matter.ReferencesDavid P. Doane, L. E. (2007). Applied Statistics in Business and Economics. New York McGraw- H ill.