Determine the effectiveness of a safety program

Assignment Help Business Economics
Reference no: EM131932640

(Use Excel) An engineer wants to determine the effectiveness of a safety program. He collects annual loss of hours due to accidents in 12 plants "Before and After" the program was put into operation.

PlantBeforeAfterPlantBeforeAfter

1125 108 7 96 109 2118 83 8 91 87 3123 100 9 77 64 498 83 10 62 68 574 61 11 87 53 6110 81 12 109 107

Click here for the Excel Data File

Let the difference be defined as Before - After.

a.Specify the competing hypotheses that determine whether the safety program was effective.

H0μD = 0; HAμD ≠ 0H0μD ≤ 0; HAμD > 0H0μD ≥ 0; HAμD < 0

b.Using the appropriate commands in Excel, calculate the value of the test statistic. Assume that the hours difference is normally distributed. (Round intermediate calculations to at least 4 decimal places and final to 2 decimal places.)

Test statistic  

c. At the 5% significance level, specify the critical value(s). (Round your answer to 3 decimal places.)

Critical value  

d. Is there sufficient evidence to conclude that the safety program was effective? Yes, since we reject H0No, since we do not reject H0Yes, since we do not reject H0No, since we reject H0

Reference no: EM131932640

Questions Cloud

What is in your opinion the reason for one of recessions : What is in your opinion the reason for at least ONE of the two recessions. Can you find an explanation for the "roots" of the recession?
After-tax cost of debt for new issue of bonds : The corporate tax rate is 31%. What would be the approximate after-tax cost of debt for a new issue of bonds?
Best described by a uniform? distribution : Assuming that the location of the gouge along the spindle is best described by a uniform? distribution, what is the probability that a defective spindle.
Describe a sole proprietorship : Describe a sole proprietorship and discuss its advantages and disadvantages. Describe a partnership and discuss its advantages and disadvantages.
Determine the effectiveness of a safety program : He collects annual loss of hours due to accidents in 12 plants "Before and After" the program was put into operation.
Describe the process management method : Which of the two methods described best fits the process management method used by Louis Vuitton? Briefly describe the process management method.
Why did you select your chosen point in the policy process : There are several steps involved with the development of new public policy. Research how the U.S. federal government develops new, or revises existing policy.
Although npv is best capital budgeting technique : Although NPV is the best capital budgeting technique, most executives prefer to use
Reliable indications of statistical significance : You then analyze the same data by using multiple regression. Which analytic technique will give the more reliable indications of statistical significance?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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