State the null and alternative hypothesis

Assignment Help Econometrics
Reference no: EM13208484

ChooChoo Paper Company makes various types of paper products. One of their products is a 30 mils thick paper. In order to ensure that the thickness of the paper meets the 30 mils specification, random cuts of paper are selected and the thickness of each cut is measured. A sample of 256 cuts had a mean thickness of 30.3 mils with a standard deviation of 4 mils.At the 95% confidence level using the critical value approach, test to see if the mean thickness is significantly more than 30 mils.

State the null and alternative hypothesis.

Reference no: EM13208484

Questions Cloud

Identify the margin of error term and standard error term : estimate the average years of seniority for employees working for Kaneko Ltd. The files of 49 workers are selected at random. Average seniority for those in the sample is 13.6 years. Assume you know the population standard deviation is 5.2 years.
Multiple theories to explain a social phenomenon : What might be a problem with using multiple theories to explain a social phenomenon? What might be a problem with using only one theoretical model to explain a social phenomenon ?
Estimate the average seniority for the full population : estimate the average years of seniority for employees working for Kaneko Ltd. The files of 49 workers are selected at random. Average seniority for those in the sample is 13.6 years. Assume you know the population standard deviation is 5.2 years.
Collectivist cultures-attention to nonverbal behaviors : Since collectivist cultures pay more attention to nonverbal behaviors, they are better at expressing both positive and negative emotions.
State the null and alternative hypothesis : ChooChoo Paper Company makes various types of paper products. One of their products is a 30 mils thick paper. In order to ensure that the thickness of the paper meets the 30 mils specification, random cuts of paper are selected and the thickness o..
Calculate the organizations cost of equity : Locate ten organizations that currently pay a common stock cash dividend. enter the ticker symbol of an S&P 500 company in the quote box, and see whether it indicates that the company pays a dividend.
What is the implication of the efficiency wage theory : (a) reduce shirking by employees and (b) reduce employee turnover What is the implication of the efficiency wage theory for unemployment In what way are piece rates, commissions, royalties, profit sharing, and stock options substitutes for efficie..
Ideas about plans are frequently present as ideal forms : Hopkins says, “Ideas about plans are frequently present as ideal forms…” Discuss how this observation about ideal forms has an impact on planning from the perspective of Hopkins Boyer and Illich.
Federal and state anti-drug legislation analysis : analysis in which you assess federal and state anti-drug legislation. Compare and contrast the similarities and differences among various states,

Reviews

Write a Review

Econometrics Questions & Answers

  Determine the possibility of declining average costs

Give a numerical example to show that a monopolist's marginal revenue can be upward sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue. Think of a graphic that shows the possibility of declining a..

  Find the subgame perfect nash equilibrium

Find the Subgame Perfect Nash Equilibrium where rm 1 chooses its quantity in the rst stage, then in the second stage rm 2 makes its quantity choice. Find the equilibrium quantities, price, and prots. Which rm produces more in equilibrium Find the ..

  Estimating demand

When testing whether each of independent variables in a multiple regression equation is statistically significant in describing variations in the dependent variable,

  How much money must company set aside in a lump-sum interest

U.S. Steel is planning a plant expansion that is expected to cost $13 million. How much money must the company set aside now in a lump-sum investment to have the money in 2 years Capital funds earn interest at a rate of 12% per year, compounded co..

  How much replacing the roof will cost

Traci is planning to sell her house, and she is considering making two upgrades to the house before listing it for sale. Replacing the carpeting will cost her $3,000 and replacing the roof will cost her $6,000. Traci expects the new carpeting to i..

  Find the optimal level of pollution as recommended

What is the optimal level of pollution P = 2P + P^2 => MC = 2 + 2P CC = 5 - 3P => MC = -3 to find the optimal level of pollution as recommended, we need to set total marginal cost = 0, then I have 2 + 2P -3 = 0 => 2P -1 = 0 => P = 0.5 You have alread..

  Determine what is the expected value of the delay

The internal study could be started immediately, and then the decision on the consultant could be made in three months. If this option is selected, the internal study will reliably indicate the outcome. If the consultant were hired, it would add t..

  What would you expect from duffs stock price

Duff Inc. paid a 2.06 dollar dividend today. If the dividend is expected to grow at a constant 4 percent rate and the required rate of return is 7 percent, what would you expect Duff's stock price to be 3 years from now

  How you would select a random sample of three regular motels

Suppose the last five motels are "cut-rate" motels. Describe how you would select a random sample of three regular motels and two cut-rate motels. Three can be chosen from the first 20 motels in how many ways

  Derive the law of motion of capital per worker

Derive the law of motion of capital per worker and draw the graph of the law of motion of capital per worker, and indicate the steady state.

  What are the positive economic profits

A potential entrepreneur is trying to decide whether to open a new health spa. She presently makes $35,000 per year as an aerobics instructor and will have to give up this job if she opens the new health spa. If she chooses to open the spa, it wil..

  What would the optimal production subsidy be

Calculate the total effect on welfare of a tariff of 5 per unit levied on imports. Calculate the total effect of a production subsidy of 5 per unit. Why does the production subsidy produce a greater gain in welfare than the tariff? What would the opt..

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