How much evidence is that the manufacturer claim is false

Assignment Help Financial Accounting
Reference no: EM132743353

The manufacturer of the ColorSmart-5000 television set claims that 95 percent of its sets last at least five years without needing a single repair. In order to test this claim, a consumer group randomly selects 404 consumers who have owned a ColorSmart-5000 television set for five years. Of these 404 consumers, 313 say that their ColorSmart-5000 television sets did not need repair, while 91 say that their ColorSmart-5000 television sets did need at least one repair.

Problem (a) Letting p be the proportion of ColorSmart-5000 television sets that last five years without a single repair, set up the null and alternative hypotheses that the consumer group should use to attempt to show that the manufacturer's claim is false

Problem (b) Use critical values and the previously given sample information to test the hypotheses you set up in part a by setting a equal to .10, 05, .01, and .001. How much evidence is there that the manufacturer's claim is false?

Reference no: EM132743353

Questions Cloud

Calculate the price of eight percent semi-annual bond : Calculate the price of 8.0% semi-annual bond. the bond was originally issued with a 10 year term to maturity and exactly five years remain until maturity.
Conducting research necessary to develop quality deliverable : In what instances would Wikipedia be of benefit in conducting research necessary to develop quality deliverables?
What is the issue price : Question - On January 1, 2000. Wake Enterprises issued $1,500,000 of 4% 7-year bonds. What is the issue price if they are to yield 6%
Calculate the minimum amount of annual cash inflows : An asset is purchased for $50,000. It is expected to provide an additional $12,000 of annual net cash inflows. The asset has a 10-year life and an expected.
How much evidence is that the manufacturer claim is false : Hypotheses you set up in part a by setting a equal to .10, 05, .01, and .001. How much evidence is there that the manufacturer's claim is false?
Goods and service design : From the e-Activity, examine some of the steps that are involved in designing goods and services.
State the advantages and disadvantages of payback period : It is based on expected cash flows and provide a measure of liquidity. State the advantages and disadvantages of Payback period
What are the maximum lead time in working days : What are the maximum lead time in working days and the reorder point for Material X? Normal lead time in working days 30 days
Breakeven analysis when defining business strategy : Discuss the best way to leverage a breakeven analysis when defining a business strategy.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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