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Consider a random sample of size 40 from a normal population with hypothesized variance 75.6.
a. Write the four parts for a one-sided, left-tailed hypothesis test concerning the population variance with a = 0.001.
b. Suppose σ2 = 48.5. Find the value of the test statistic, and draw a conclusion about the population variance.
c. Find bounds on the p value associated with this hypothesis test.
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Solve different inventory control problems using an appropriate OR method.
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