Test the claim when mean is less

Assignment Help Game Theory
Reference no: EM1390793

A manufacturer makes ball bearings that are supposed to have a mean weight of 30 g. A retailer suspects that the mean weight is actually less than 30 g. The mean weight for a random sample of 16 ball bearings is 29.5 g. with a standard deviation of 4.3 g. At the 0.05 significance level, test the claim that the mean is less than 30 g.

Give the null and alternate hypotheses. also the critical value, the test statistic and the evidence shows or does not show support.

Reference no: EM1390793

Questions Cloud

Imagine which you are a manufacturer of athletic shoes : Imagine which you are a manufacturer of athletic shoes. Within the organizational context, which of the subsequent ethical behaviours can occur?
Expected value of reader digest sweepstakes : Supposing that there is no cost of entering the sweepstakes, find the expected value of the amount won for one entry. Determine the expected value if the cost of entering this sweepstakes is the cost of a postage stamp. Is it worth entering the cont..
How long does it take for a person to radiate the energy : A typical person radiates about 62 W of power at room temperature. Given this result, how long does it take for a person to radiate away the energy obtained by consuming a 230-calorie doughnut.
Compute the annual total cost : ABC Aircraft uses 3,000 drill bits annually. Each drill bit costs $50 and each order ABC places costs $25. The annual carrying rate is 40% of unit cost.
Test the claim when mean is less : A manufacturer makes ball bearings that are supposed to have a mean weight of 30 g. A retailer suspects that the mean weight is actually less than 30 g. The mean weight for a random sample of 16 ball bearings is 29.5 g. with a standard deviation o..
Explain the different components of decision support system : Explain the different components of a decision support system and explain each one. Imagine of an example where a decision support system helps with making internal decisions.
Determine the magnitude of the emf induced in the loop : Determine the magnitude of the emf induced in the loop after exactly time 6 has passed since the circumference of the loop started to reduce.
What is the economic order quantity : The Central Valve Company sells industrial valves and fluid control devices. One of Central's most popular valves, the Western, has an annual demand of 6,000 units.
Estimating the cost of life saved : Suppose that 0.6 of the present 25,000 vehicle occupants killed in collisions were not wearing seat belts. There are about 170 million registered cars and trucks on the highway today.

Reviews

Write a Review

Game Theory Questions & Answers

  How long does this orchestra play

The time it takes a symphony orchestra to play beethovens ninth symphony has a normal distribution with a mean of 64.3 minutes and a standard deviation of 1.15 minutes. If an orchestra plays it so slowly that 80% of the orchestras play faster than..

  Critical value and test statistic

A light-bulb manufacturer advertises that the average life for its light bulbs 900 hours. A random sample of 10 of its light bulbs resulted in the following lives in hours. At the 10% significance level, do the data provide evidence that the mean ..

  Problem related to game theory

Assume that the market for computer chips is dominated through two comapnies: Intel and AMD. Intel has discovered how to make superior chips and is planning whether or not to adopt new technology.

  Analyzing payoff matrix for a dominant strategy

The Candle Company and the Wick Corporation are the only manufactures of a very sophisticated type of flammable material.

  Test statistic for the hypothesis test

Use the above survey results to test the claim that less than half of all Ohio State female students who, if they had a cell phone, would be willing to walk somewhere after dark that they would normally not go. What is the value of the test statis..

  Pertaining to the matrix game theory problem

Pertaining to the matrix need simple and short answers, Find  (a) the strategies of the firm (b) where will the firm end up in the matrix equilibrium (c) whether the firm face the prisoner’s dilemma.

  Explain prisoner dilemma game

The given matrix demonstrate the payoffs for an advertising game between Hilton and the Oriental. The companies can choose to advertise or to not advertise.

  Poisson distribution and probability

There is 0.02% probability that a credit card holder of a company reports the loss or theft of the credit card each month. The company has 15,000 credit cards in Memphis. Use the Poisson distribution to answer the following questions.

  A supplier and a buyer, who are both risk neutral

A supplier and a buyer, who are both risk neutral, play the following game,  The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.

  Calculating the nash equilibrium

Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.

  Find the dollar weighted yield rate

Find the dollar weighted (simple interest) yield rate and the time weighted yield of the account for this year.

  Describe the meaning of a nash equilibrium

Describe the meaning of a Nash Equilibrium when companies are competing with respect to price. Explain why is the equilibrium stable?

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