Compute the sample mean, Macroeconomics

Joans Nursery specializes in custom-designed landscaping for residential areas. The estimated labor cost associated with a particular landscaping proposal is based on the number of plantings of trees, shrubs, and so on to be used for the project. For cost-estimating purposes, managers use two hours of labor time for the planting of a medium-sized tree. Actual times from a sample of 10 plantings during the past month follow (times in hours).
1.7, 1.5, 2.6, 2.2, 2.4, 2.3, 2.6, 3.0, 1.4, 2.3
With a .05 level of significance, test to see whether the mean tree-planting time differs from two hours.

a. State the null and alternative hypotheses.

b. Compute the sample mean.

c. Compute the sample standard deviation.

d. What is the p-value?

e. What is your conclusion?

Posted Date: 4/1/2013 1:45:38 AM | Location : United States







Related Discussions:- Compute the sample mean, Assignment Help, Ask Question on Compute the sample mean, Get Answer, Expert's Help, Compute the sample mean Discussions

Write discussion on Compute the sample mean
Your posts are moderated
Related Questions
If you were a restaurant owner and you knew that the demand for your restaurant was elastic, how would you feel about a sales tax on restaurant food? Explain.

Q. Describe Exports and imports in AS-AD model? Exports and imports. This is more difficult to justify owing to exchange rate. Suppose that we have a flexible exchange rate a

What are the difference between explicit cost and implicit cost? Both are concerns to Opportunity Cost and Decisions: An explicit cost is a cost which involves essentially

The supply equation for widgets is P = 100 + 10QS. The elasticity of supply between quantity supplied of 9 and 11?

Gross Domestic SavingsĀ  Income not devoted to current consumption is saved. In an economy during a particular year some units will consume less than their income while some wil

Macroeconomics We have explained several concepts and Macroeconomic Aggregates which form the basic terminology of macroeconomic analysis. Like other empirical sciences, econom

According to liquidity preference theory, an increase in the price level causes the interest rate to: a.decrease, which decreases the quantity of goods and services demanded. b.inc

Expenditure method is also called Flow-of-Expenditure method, consumption and investment method, income Disposal method, etc. Expenditure method measures the final expenditure

Usually the government is very good at wasting money and resources so less spending, by the government helps the economy as those resources are allocated in areas that are more wel

The annual fixed cost for a light fixture manufacturing company are $38,000, and the variable costs are $40 per unit. If the selling price per unit is p = 485 - 1.395X, what is the