Estimate of the population mean energy usage

Assignment Help Financial Accounting
Reference no: EM13342756

Question:

The energy consumption of refrigerators sold in a country is checked and appliances are given a star rating to guide consumers who are about to make purchases. The consumption in kWh per annum is also displayed for each model on the government website. Suppose a consumer organisation wants to estimate the actual electricity usage of a model of refrigerator that has an advertised energy usage of 439 kWh per annum. It tests a random sample of 18 fridges and finds a sample mean usage of 445 and a sample standard deviation of 40.

a) Assuming that the energy usage in the population is normally distributed, construct a 95% confidence interval estimate of the population mean energy usage for this model of refrigerator.

b) Do you think that the consumer organisation should accuse the manufacturer of producing fridges that do not meet the advertised energy consumption? Explain.

 

Reference no: EM13342756

Questions Cloud

Define the meaning of the term salting out : When might you want to do this. explain what we really are doing in this step and why it could not possibly be to salt-out the product at that point.
Is the ferry complying with safety regulations : Find the probability that the total weight of passengers on the ferry will exceed 4,250 pounds.
Determine the total kinetic energy of beta decay products : Tritium (31H) is an unstable isotope of hydrogen; its mass, including one electron, is 3.016049u. Determine the total kinetic energy of beta decay products
Use the regression equation to predict annual profit : Use the least-squares method to derive the linear regression equation describing the relationship between R&D expenditure and annual profit.
Estimate of the population mean energy usage : Do you think that the consumer organisation should accuse the manufacturer of producing fridges that do not meet the advertised energy consumption? Explain.
Discuss main factors that influence choice of manufacturing : Example an organization or a product from an industry that you are familiar with, critically discuss the main factors that influence the choice of a manufacturing/service process design.
Explain what alkyne yields the oxidative cleavage products : What alkyne (or diyne) yields the following oxidative cleavage products. CO2+CH3(CH2)8CO2H
The formulas for eoq and epq become the same : When do the formulas for EOQ and EPQ become the same?
Perform a hypothesis test : What would be your answer in (a) if the sample mean is 328.9 mL and the standard deviation is 3 mL?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What were the total dividends paid to shareholders

What were the total dividends paid to shareholders during the most recent year and Determine of total dividends paid to shareholders during the most recent year.

  Identifying external borrowings requirement

Identifying the External borrowings requirement or excess cash generated by preparing the pro-forma balance sheet - Forecast the firm's December 31, 2010 pro-forma balance sheet.  Identify the external financing need (EFN) or excess cash generated.

  How equity transactions affect components of equity

How equity transactions affect the components of stockholders' equity. For instance, what impact do these transactions have on financial ratios, such as EPS (earnings per share)?

  Analyze your personal expenses on a variable and fixed basis

Analyze your personal expenses on a variable and fixed basis. What are some of your personal fixed costs and variable costs? What would cause them to change?

  Illustrate what standards apply

Write a 700- to 1,050-word paper explaining economic issues that bring concern to pricing your services and products. What ethical challenges will you face in hiring non-CPAs? Illustrate what standards apply?

  Evaluate what is your total purchase price

You purchase 30 bonds with a coupon rate of 5 7/8 and a current market price of 89. The commission charge is $15.00 per bond. The date of the transaction is September 1, and the bond pays interest on January 1 and July 1. Evaluate what is your tot..

  What kind of shares are being issued

Compare the latest Net Profit after tax for two years and make some comments that whether to invest or not. Explain why yes or not and what kind of shares are being issued?

  Determine the yield-to-maturity

What annual payment did you, as an original bondholder, receive and  What was the yield-to-maturity (YTM) of the bonds at their date of issue?

  Illustrate what effect on income should be reported

Goofy reclassified this investment as trading securities in December of 2006 when the market value had risen to $162,000. Illustrate what effect on 2006 income should be reported by Goofy for the Crazy Co. shares?

  Complete the net present value analysis

Complete the net present value analysis showing that the investment should be undertaken - write a memo explaining why the company should make this investment and why the company should scrap its three-year payback rule.

  Prepare a schedule starting with pretax financial income

Prepare a schedule starting with pretax financial income and compute taxable income and prepare the journal entry to record income taxes for 2013.

  Users of financial reporting standard

Does AASB 8 Leads to useful information to users of financial reporting standard? Or fail

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