Week1AMTB2304 - Dr. Suren Phansalker ADM2304 Real Life...

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Dr. Suren Phansalker ADM2304 “Real Life Problem” for Confidence Intervals & Hypothesis Tests For A Single Population Mean Correct Use of Tables An Example: A tire manufacturer tests tires to find their useful life in thousands of km (kmK). The data, kmTireK is shown below. The tire manufacturer claims that the (true/real) population mean of the useful life of the tires is 100kmK. Data Display kmTireK 96 99 84 111 87 90 75 81 117 120 78 78 81 90 75 90 93 87 72 108 75 111 111 60 66 105 69 84 90 108 120 123 1. Calculate the Sample Statistics. 2. Obtain the Confidence Interval with 98% Confidence Coefficient. Explain its significance. 3. Test the hypothesis that the population mean is not 100kmK. Use a LS = 2%. Is the conclusion confirmed by the Confidence Interval? Explain. Is the claim made by the manufacturer justified? 4. Calculate the p-Value for the test above in part ‘3’. 5. Test the hypothesis that the population mean is more than 100kmK. Use a LS = 2%. Calculate the p-Value for this test. Can you explain what the Lower Bound means?
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Week1AMTB2304 - Dr. Suren Phansalker ADM2304 Real Life...

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