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An automobile assembly line operation has a scheduled mean completion time,u , of 13.5 minutes. The standard deviation of completion times is 1.7 minutes. It is claimed that, under new management, the mean completion time has decreased. To test this claim, a random sample of 50 completion times under new management was taken. The sample had a mean of 13.2 minutes. Can we support, at the 0.05 level of significance, the claim that the mean completion time has decreased under new management? Assume that the standard deviation of completion times has not changed.
Perform a one-tailed test. Then fill in the table below.
Please answer the following:
Ho=
H1=
The type of test statistic; z,t, chi square, f?
The value of the test statistic ?
The p value?
Can we support the claim that the mean completion time has decreased under new management?
Calculate GM's Altman Z-Score. Show your calculations. Based on your calculations, would you agree or disagree with Lutz that GM is over the worst? Explain in detail.
According to a survey 41 % of major US companies electronically monitor their employees. Suppose that 5 such companies are selected independently and at random.
Do the confidence interval limits contain 98.6F? What does the sample suggest about the use of 98.6F as the mean body temp.
The average hourly wage of workers in a fast food restaurant is $5.85 with a standard deviation of $0.35. Assume that the distribution is normal.
What is a normal distribution? What is a Z-Value? Can you provide and example of how they relate?
(A) What is the probability that none of the components will fail ??? (B) What is the probability that at least one component will fail ???
Compare a three-month moving average forecast with an exponential smoothing fore-cast for a = 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?
Would a normal model be appropriate to describe the distribution of sale prices?
When a researcher has two samples with two means, one of the assumptions for two samples is independence of between the two samples. What does this mean? What happens if the independence assumption is violated?
A recent survey reported in Business Week dealt with the salaries of CEOs at large corporations and whether company shareholders made money or lost money.
Determine whether the given value is a statistic or a parameter. A researcher determines that 42.7% of all downtown office buildings have ventilation problems. Is this a statistic or a parameter; explain your answer.
What is the 95% confidence interval estimate of the population mean cost for a prescription of Zocor?
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