RES 341 Week 2 E-Text

RES 341 Week 2 E-Text - 9.54 Faced with rising fax costs, a...

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should be sent by 2-day mail instead. Exceptions are allowed, but they want the average to be 10 or below. The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages. (a) At the .01 level of significance, is the true mean greater than 10? (b) Use Excel to find the right-tail p-value. H0: μ ≤ 10 H1: μ > 10 Hypothesiz 10 Sample Av 14.44 Sample Siz 35 Sample Va 19.803 Test Statist 5.903 p-value 0.000001 α 0.010 α-level critic 2.441 (a) Yes, at the .01 level of significance, the true mean is greater than 10 coin biased toward heads? Show your decision rule and calculations. (b) Calculate a p-value and interpret it. 0.500 Sample siz 60 Estimated p 0.633 Test statist 2.066 p-value 0.019 α 0.100 α-level critic 1.282 (a) Yes, the coin is biased toward heads since 2.1 > 1.3 (b) p = 0.019 The p-value is the smallest possible value of alpha for which the given sample will lead to the decisi same day they are received. If 485 out of the next 500 orders are processed on the same day, would
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RES 341 Week 2 E-Text - 9.54 Faced with rising fax costs, a...

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