Statistical conclusion

Assignment Help Operation Management
Reference no: EM1321677

Suppose that in past years the average price per square metre for warehouses has been $322.80. A national real estate investor wants to determine whether that figure has changed now. The investor hires a researcher who randomly samples 19 warehouses that are for sale and finds that the mean price per square metre is $316,70, with a standard deviation of $12.90. If the researcher uses a 5% level of significance, what statistical conclusion can be reached? What are the hypotheses?

Reference no: EM1321677

Questions Cloud

Management predicts that if the strike is successful : Management predicts that if the strike is successful the cost of worker will increase to $100 per day.
Mentioning hypotheses and decision rule : At 5% level of significance, is true mean smaller than specification? Clearly mention your hypotheses and decision rule.
Find percentage change in the required sample size : What percentage change in the required sample size would this produce?
Number of prizes in a randomly chosen multi-pack : If the packets are sold in multi-packs containing six packets, what is the distribution of the number of prizes in a randomly chosen multi-pack?
Statistical conclusion : The investor hires a researcher who randomly samples 19 warehouses that are for sale and finds that the mean price per square metre is $316,70, with a standard deviation of $12.90. If the researcher uses a 5% level of significance, what statistica..
Selecting suitable hypothesis : National average for 2-year leases is 30,000 miles. Select the suitable hypothesis.
Context of contract law for dealership : What do you think about this situation? Should parties to a sales contract be able to rescind a contract because of mutual mistake of fact? Why or why not? Did either party act unethically in this case?
Elucidate which would be farther to the right : If you were to draw the two nations' PPF's on the same graph, elucidate which would be farther to the right.
Telecommunications planning model : Discuss how to utilize the telecommunications planning model in detail and also explain the significance of the strategic management in order to support this model.

Reviews

Write a Review

 

Operation Management Questions & Answers

  Build and describe a prototype model

Mathematical Programming and Optimisation: Build and describe a prototype model Use your model to recommend a schedule of burning and, if required buying fuels

  Standardization of stock items

nternal customers in organizations, Distribution resource planning (DRP), Electronic data interchange (EDI), Stocktaking, inventory policy, Shelf life of products, Limited storage space

  Case study of rittenhouse medical

Case study of Rittenhouse Medical

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  Context of contract law for dealership

What do you think about this situation? Should parties to a sales contract be able to rescind a contract because of mutual mistake of fact? Why or why not? Did either party act unethically in this case?

  Discussing global operations management

Write a five-page paper discussing "Global Operations Management, Global Operations Manufacturing. What are the benefits/downsides of creating manufacturing operations outside the United States?

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Liquidated damage amount stated in contract

Is the liquidated damage amount stated in the contract between Mica Co. and Pack Rat Storage valid, or is it an invalid penalty? How much in damages can Pack Rat Storage recover from Mica Co.?

  Particular process in any organization

Write a two page summary on a particular process in any organization.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Conclusions of empirical research

How do you determine if the conclusions of empirical research are logically supported or not? Do conclusions that are not logically supported invalidate the entire study? Why or why not?

  Computer-aided design

Computer-Aided Design is one of the techniques used by Regal Marine in the manufacturing of boats. With the aid of examples, critically discuss FIVE (5) techniques that are important to the design of Regal Marine's product

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