Hypothesis testing-confidence interval-population mean

Reference no: EM13105246

Average cost of $3,200 for products. n=25. After review it seems mean cost is $2,000 with a standard deviation of $150. Test that average cost is $3,200 or more versus $2,000. assume level of significance of .05.

What is the null hypothesis and the alternative hypothesis? What is the critical value and the p-value? What is the test statistic? Construct 95% confidence interval for the mean cost.

Reference no: EM13105246

Questions Cloud

Confidence interval population proportion : In a study of human blood types in nonhuman primates, a sample of 71 orangutans were tested and 14 were found to be blood type B. Construct a 95% confidence interval for the population proportion of blood type B in the orangutan population.

Analyzing the number of chocolate chips per cookie : The manager wants to know the probability that any particular cookie will have fewer than 5. What type of probability distribution will most likely be used to analyze the number of chocolate chips per cookie?

Creating regrets table : The following is a payoff table giving profits for various situations. Construct a regrets table. What decision should be made using minimax regret?

Confidence interval-sample size on polls data : Many newspapers, when reporting results of political polls, say that 'with 95% confidence, the results are in error by no more than ±3 percentage points'.

Hypothesis testing-confidence interval-population mean : Average cost of $3,200 for products. n=25. After review it seems mean cost is $2,000 with a standard deviation of $150. Test that average cost is $3,200 or more versus $2,000. assume level of significance of .05.

Constraints for particular conditions : Whole Foods needs at least 1,000 units of beets. The Ames supplier can supply at least 400 units and the Zearing supplier can supply no more than 900 units. Develop constraints for these conditions.

Explain human resource management- functional responsibility : Write down 800- to 1,100-word paper in which you explain human resource management's functional responsibilities associated to corporate restructuring or merger/acquisition.

Wrestling with ethics : In light of "Wrestling With Ethics" and other research/articles that you are able to draw upon, should profitability drive social responsibility.

Limits of the confidence interval : A toy manufacturer wants to see how long, on average, a new toy captures children's attention. He tests 10 children selected at random and finds that their mean attention span is 33 minutes with a standard deviation of 6 minutes.

User Account

All Pages