Compute the value of the test statistic

Assignment Help Basic Statistics
Reference no: EM132846632

A new process for producing synthetic diamonds can be operated at a profitable level only if the average weight of synthetic diamonds is greater than 0.5 karat. To evaluate the profitability of the process, 38 synthetic diamonds are generated with a mean of 0.52 karat and a standard deviation of 0.0655 karat. Is there sufficient evidence to indicate that the average weight of synthetic diamonds produced by the new process is greater than 0.5 karat? Use α = 0

a) Define the parameter of interest and set up the hypotheses in terms of the parameter.

b) Briefly explain why the t statistic should be used in this case

c) Compute the value of the test statistic

d) What conclusion can we draw? use the p-value approach

Reference no: EM132846632

Questions Cloud

Discuss what contributed to the failure : Using the concepts presented in this week's readings, discuss what contributed to the failure and what might have been done to prevent it.
Evaluate the tolerance statistics : Evaluate the tolerance statistics. Is multicollinearity a problem?
What is the market scope : What is the market scope (regional, national or global)? What is the method of delivery (direct to you, via intermediaries, other)?
How effective are key selling messages on the site : Psychographics: why, specifically, does your buyer choose this digital product/service? How effective are key selling messages on the site?
Compute the value of the test statistic : Define the parameter of interest and set up the hypotheses in terms of the parameter.
Maturity value and manipulating the simple interest formula : Hershey pays an interest of P350 five months after borrowing a certain amount. How much did she borrowed if the simple interest rate of 5.75%?
Determine which of the four levels of measurement : 1. Determine which of the four levels of measurement? (nominal, ordinal,? interval, ratio) is most appropriate for the data below.
What are key transaction costs in offer beyond list price : What are the key transaction costs in this offer beyond list price? Identify key pricing approach(es) (predatory, coupons, skimming, frequent user discounts)
How well does the website answer specific buyers questions : How well does the website content help the user/buyer decide? Why do they buy (luxury, worthwhile, comfort, instant or deferred gratification)?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Run the simulation model for hammondsport saving

Run the simulation model for Hammondsport Savings Bank's single ATM machine with the following assumptions: 1. Interarrival time between two customers is a uniform probability distribution

  Find the expectation and standard deviation of the number

Find the expectation and standard deviation of the number of securities in your portfolio that gained value.

  What is the probability that 3 people will have serious

What is the probability that 3 people will have serious medical issues with their medicine? Give answer to 3 decimal places.

  Example of a design that has three confounds

What are confounds? Give an example of a design that has three confounds. Describe three ways to alter the design to address these confounds and explain the advantages and disadvantages of each.

  Assume that the population distributions of times in

assume that the population distributions of times in minutes for two different skiers to race the same course are

  Explain carefully what the p-value represents in context

Is this hypothesis test a right-tailed , left-tailed, or two-tailed test? Explain why you chose that kind of test in this situation.

  True for time-varying systems

For time-invariant systems, show that (A, B) is controllable if and only if (-A, B) is controllable. Is this true for time-varying systems?

  Initial inspection of the data

From an initial inspection of the data and the residuals do you think a data transformation

  Mean and standard deviation of transformed data

Find the mean and standard deviation of the transformed data. Note: There are 365 days in a year.

  Find the probability that a randomly selected

Find the probability that a randomly selected part from this supplier will have a value between 85.3 and 109.7 inches.

  In addition martinez has decided that there should be at

in addition martinez has decided that there should be at least six ads on tv or radio or some combination of those two.

  Predict the monthly labor hours

Predict the monthly labor hours required when the X-ray exposures are 56,194, the bed days are 14,077.88, and the average length of patients' stay is 6.89.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd