Estimate for the tread life

Assignment Help Microeconomics
Reference no: EM131040223

Question 1

A tire company performs quality-control tests on the monthly output of its best-selling model tire at each of its plants. Each month a random sample of 25 tires is selected from each plant and tested to see if the average tread life of that plant's tires is above specifications. For one plant, the random sample of 25 tires had a sample mean of 39,500 miles and a sample standard deviation of 3,300 miles. The company performs a hypothesis test at the .05 level of significance to see if there is evidence that the average tread life is greater than 38,000. Based on this sample, the company should:

Fail to reject the null hypothesis and conclude there is not evidence that the average tread life is greater than 38,000 miles.

Reject the null hypothesis and conclude there is evidence that the average tread life is greater than 38,000 miles.

Reject the null hypothesis and conclude there is not evidence that the average tread life is greater than 38,000 miles.

Fail to reject the null hypothesis and conclude there is evidence that the average tread life is greater than 38,000 miles

Question 2

Consider the following set of numbers: 10, 25, 13, 18, 40, 5. Determine the median and variance of these data.

median = 15.5, variance = 157.9

median = 15.5, variance = 35

median = 18.5, variance = 473.83

median = 18.5, variance = 12.57

Question 3

Suppose the average puppy weighs 10 pounds. A sample of 10 puppies yields a sample mean of 13.2 pounds and a sample standard deviation of 2.78 pounds. Assume the population standard deviation is known to be 5.25.You want to test whether the sample mean differs from the population mean of 10 pounds at a 5 percent level of significance using a two-tailed test. Calculate the test statistic for the sample data.

Question 4

Consider the following data on the number of beers consumed by a sample of football fans during a game:

3

5

0

2

5

3.

Calculate the variance.

Question 5

The average batter life of the iPhone 4S is reported to be 6.0 hours by Apple. Assume that the population standard deviation for the better life for this cell phone is 30 minutes. A random sample of 50 iPhones had an average better life of 5.7 hours. Determine the margin of error (in hours) for the 90% confidence interval for this sample.

Question 6

The average batter life of the iPhone 4S is reported to be 6.0 hours by Apple. Assume that the population standard deviation for the better life for this cell phone is 30 minutes. A random sample of 50 iPhones had an average better life of 5.7 hours. Determine the lower confidence limit (LCL), in hours, for the 90% confidence interval for this sample.

Question 7

The average batter life of the iPhone 4S is reported to be 6.0 hours by Apple. Assume that the population standard deviation for the better life for this cell phone is 30 minutes. A random sample of 50 iPhones had an average better life of 5.7 hours. Determine the upper confidence limit (UCL), in hours, for the 90% confidence interval for this sample.

Question 8

A tire manufacturer selected a random sample of 50 tires of a particular model chosen from the past month's production and used destructive testing to determine the tread life of each tire. The sample mean was 42,300 miles and the sample standard deviation was 7,500 miles. What is the 95% confidence interval estimate for the tread life of that entire model produced in the past month?

Question 9

Suppose the average number of complaints received by Christiana Hospital from patients is 7.4 every four weeks. Assume the number of complaints per month follows the Poisson distribution. What is the probability of four or more complaints during the next four weeks?

Question 10

Suppose the average number of complaints received by Christiana Hospital from patients is 7.4 every four weeks. Assume the number of complaints per month follows the Poisson distribution.

What is the probability of exactly three complaints during the next two weeks?

Question 11

Zombies eat, on average, 5 brains per day. Assume the actual number of brains eaten per day follows the normal distribution with a standard deviation of 0.29 brains. What is the probability that a zombie will eat exactly 3.2 brains tomorrow?

Reference no: EM131040223

Questions Cloud

Validate economic decisions for an organization : How does applying econometrics to economics validate economic decisions for an organization? Support your response with an example. Please provide a reference.
Definition of all variables and their indicators : Please use this discussion board to propose a specific study or outbreak you would like to investigate. Let's keep it professional and be sure to at least include the following information: Introduction to the research topic, formulation of the pr..
Paid attention to the hundreds of little plastic containers : Have you ever paid attention to the hundreds of little plastic containers located in the cosmetics aisle of your grocery store? Or in the pharmaceutical aisle? Or, indeed, in every aisle in most stores?
What are the total returns : What is the yield to maturity on a 10-year, 9% annual coupon, $1,000 par value bond that sells for $887.00? That sells for $1,134.20? What does a bond selling at a discount or at a premium tell you about the relationship between rd and the bond's ..
Estimate for the tread life : The sample mean was 42,300 miles and the sample standard deviation was 7,500 miles. What is the 95% confidence interval estimate for the tread life of that entire model produced in the past month?
Accounting theory and issues-common wealth bank : Accounting theory and issues- Assignment topic: common wealth bank. Issue: insurance scandal (Australia). Things to include- Table of content and Executive summary
How do you know when you have a legitimate research problem : How do you know when you have a legitimate research problem? How would you delineate the subparts of the social problem for your research project?
Example concerning the crm efforts of caterpillar : Refer to the example concerning the CRM efforts of Caterpillar. Where on the CRM continuum (low-end to high-end) does the company's CRM strategy fi t? Explain your answer.
Patent on new invention : Willie Stand obtains a patent on his new invention, the bipod. After twenty years, a. Willie will continue to earn a positive economic profit, because entry will not affect the price of bipods

Reviews

Write a Review

Microeconomics Questions & Answers

  If electricity can be bought for costs of 010 per kwh how

a university spent 1.8 million to install solar panels atop a parking garage. these panels will have a capacity of

  Indicate whether the production function exhibits increasing

The relationship between the number of technicians hired per hour and the number of radiographs produced per hour is shown in the following table. Show the total and marginal products and indicate at each level of production whether the production..

  A person chooses between leisure and consumption

A person chooses between leisure and consumption. The utility derived from any combination of leisure and consumption is given by the formula: u = LC - 88C where u is utility, L is the number of leisure hours per week, and C is the number of dolla..

  Compare two countries with respect to components of gdp

Compare the two countries with respect to the components of GDP and Have these percentages changed over the 10 years? If so find out why.

  A consultant gives you the following equation which

a consultant gives you the following equation which represents the demand for new cars as a function of the price of

  Substitute product can reduce inter-product cannibalization

A firm that acquires a substitute product can reduce inter-product cannibalization by

  Calculate the prices when the firm discriminates between

two consumers justin and cindy of the same product have the following demand curves q1 500 - 10 p and q2 500 - 20 p.

  What would be the equilibrium price and quantity explain

a) If the monopoly can't separate both markets, then what would be the equilibrium price and quantity? Explain.b) Does the firm make a profit? If yes, how much is it? Explain.c) If the monopoly can separate both markets, then what type of price discr..

  Theory of the ethics of bureaucratic organizations

In your view, should leaders in the public service pursue the "greatest good for the greatest number," or follow a set of moral rules when they make decisions involving difficult ethical issues?

  A consumer consumption set

A consumer consumption set

  Data trends on unemployment and inflation

Key concepts to include in your paper-data trends on unemployment, inflation, GDP growth, expansionary fiscal policy tools, FOMC, easy money policy tools and other terms from this class.

  Analysis the number of buyers and their relative sized

Analysis the number of buyers and their relative sized.

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