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Steps process of hypothesis testing

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Sales team of a New Ventures Company is in the process of introducing a new product. As an initial step company conducted a survey of prospective customers. Estimate how large a sample should company take if they want to estimate the proportion of people who will buy the product to within 3%, with 99% confidence.

A researcher has taken a random sample of 8 observation from a normal population. Sample mean and standard deviations are 75 and 50 respectively. Using the 6 steps process of hypothesis testing.

-Can he infer at the 10% significance level that the population mean is less than 100?

-Can he infer at the 10% significance level that the population mean is less than 100 if population standard deviation is 50?

Reference no: EM133035968

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