Formulate and test appropriate set of hypotheses

Assignment Help Basic Statistics

Reference no: EM13114517

A manufacturer of intraocular lenses is qualifying a new grinding machine and will qualify the machine if there is evidence that percentage of polished lenses that contain sur¬face defects does not exceed 2%. A random sample of 240 lenses contains 5 defective lenses.

(a) Formulate and test an appropriate set of hypotheses to determine if the machine can be qualified. Use a = 0.05. Find the P-value.

(b) Explain how the question in part (a) could be answered with confidence interval.

Reference no: EM13114517

Questions Cloud

Find the process of angiosperm fertilization : How is "pollination" different than "fertilization"? Explain and draw the structures and the process of angiosperm fertilization. What is double fertilization and why is it necessary.

How many grams of ammonia could be produced : If equal masses of N2 and H2 (7.00 grams each) are combined to produce ammonia NH3, how many grams of ammonia could be produced at maximum yield.

Computing probability with replacement : An urn contains 7 blue and 3 yellow chips. If the drawing of chips is done with replacement, determine the probability of: Drawing three yellow chips.

Explain how much cash does a company have : Explain How much cash does a company have if the firm has a current ratio of 2.5, a quick ratio of 1.2, and current liabilities of $12,000?

Formulate and test appropriate set of hypotheses : Formulate and test an appropriate set of hypotheses to determine if the machine can be qualified. Use a = 0.05. Find the P-value.

Assets liabilities and equity : WACC The Patrick Company's year-end balance sheet is shown below. Its cost of common equity is 16%, its before-tax cost of debt is 13%, and its marginal tax rate is 40%.

Describe how the mcdonalds prices its revenues and costs : Describe how the McDonalds prices its revenues and costs. For MNE's with multiple foreign operations, consider any two of those operations and the contribution they are making to the parent firm's profits.

Application of mathematics and computer programming : Financial Engineering is the application of mathematics and computer programming skills to solve certain problems in finance drawing on tools of statistics, economics, computer science and applied mathematics.

What is the thickness of the gold leaf in cm : Pure gold can be made into extremely thin sheets called gold leaf. Suppose that 5.0 x 102 kg of gold is made into gold leaf having an area of 3620 m2.

User Account

All Pages