Unit Exercise 7 - Omodolapo Agbolade-Olasinde.docx - Unit 7 Exercise Instructor Albert Wong Omodolapo Agbolade-Olasinde 1 The production supervisor of

Unit Exercise 7 - Omodolapo Agbolade-Olasinde.docx - Unit 7...

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11/22/2019 Omodolapo Agbolade-Olasinde Unit 7 Exercise Instructor: Albert Wong
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1.The production supervisor of an assembly line for producing potato chips suspects that the weight of bags of potato chips produced is higher than the specification of 250 mg. She would like to take a simple random sample of bags of potato chips produced by the assembly line and perform a statistic test to confirm that this is indeed the case. (6 points)a.What would be the null and alternative hypothesis for this research? b.What is the type I error in this situation? c.What is the type II error in this situation? 2.A simple random sample of 40 accounts is taken from an account receivables portfolio of ABC Ltd and the average account balance is $750. The population standard deviation σ is known to be $80. (6 points)a.Test the hypothesis that the population mean account balance is greater than $680 using the p-value approach and a 0.05 level of significance.
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