Will reduce its inventory costs-null hypothesis

Reference no: EM13337869

A private consulting firm determines the method that will reduce its inventory costs. The suggestions of the consulting firmare based on the assumption that mean time between the date oforder and date the items are received is 150 days. To test this assumption, the production manager randomly selected 100 orders andfound that the mean time until delivery was 146.5 days. Is this evidence sufficient to reject the null hypothesis? Past experience indicates that σ = 15 days. Use α = 0.05.

Reference no: EM13337869

Questions Cloud

Residents of a locality along with aquestionnaire : You want to conduct a survey about your dairy product samples which you have recently distributed in a respective society; write arequest letter to all the residents of a locality along with aquestionnaire. The information provided by them will help ..

Estimate population mean if the population standard : Find the minimun sample size to estimate a population mean if the population standard deviation is 5.2, the confidence interval is 99 % and the maximum error of estimate is 3. N=

What are the expected value-standard deviation : A population of 1,000 student spends an average of $10.50 aday on dinner. The standard deviation of the expenditure is $3 . Asimple random sample of 64 students is taken.

Confidence interval to estimate the true cost of the vcr : A survey of retail stores revealed that a particular brand andmodel of a VCR retails for $375 with a standard deviation of$20. Develop a 95% confidence interval to estimate the true cost ofthe VCR.

Will reduce its inventory costs-null hypothesis : A private consulting firm determines the method that will reduce its inventory costs. The suggestions of the consulting firmare based on the assumption that mean time between the date oforder and date the items are received is 150 days.

Multiple choice exam : A student is taking a multiple choice exam in which eachquestion has four choices. Assume that she has no knowledge of thecorrect answers to any of the questions. There are five multiple choicequestions on the exam. What is the probability that she w..

Checked periodically by a quality control inspector : A production process is checked periodically by a quality control inspector. The inspector selects simple random samples of30 finished products and computes the sample mean product weights Xbar.

Sales per customer contact of a salesperson : A marketing manager of a manufacturing company finds that an average of a sales per customer contact of a salesperson is 0.40. What is the probability that this salesperson makes exactly two sales in the next six customercontacts?

Find probability that astudent receives a grade of c : During past years, thedistribution of grades A, B, C, D and F in Commerce classes hasbeen 0.07, 0.30, 0.48, 0.10 and 0.05, respectively.

User Account

All Pages