Find the approximate observed significance level for test

Assignment Help Microeconomics
Reference no: EM131029155

The stability of measurements of the characteristics of a manufactured product is important in maintaining product quality. In fact, it is sometimes better to obtain small variation in the measured value of some important characteristic of a product and have the process mean slightly off target than to get wide variation with a mean value that perfectly fits requirements. The latter situation may produce a higher percentage of defective product than the former.

A manufacturer of light bulbs suspected that one of his production lines was producing bulbs with a high variation in length of life. To test this theory, he compared the lengths of life of n = 50 bulbs randomly sampled from the suspect line and n = 50 from a line that seemed to be in control. The sample means and variances for the two samples were as shown in the following table.

Suspect Line Line in Control
y-1 = 1520 y-2 = 1476
s12 = 92000 s22 = 37000

a. Do the data provide sufficient evidence to indicate that bulbs produced by the suspect line possess a larger variance in length of life than those produced by the line that is assumed to be in control? Use α = .05.

b. Find the approximate observed significance level for the test and interpret its value.

Reference no: EM131029155

Questions Cloud

Draw the activity-on-node project network associated : Draw the activity-on-node (AON) project network associated with the following activities for Dave Carhart's consulting company project. How long should it take Dave and his team to complete this project? What are the ciritical path activities?
Carolina and regular tea to achieve coastals blending goals : The Coastal Tea Company sells 60-pound bags of blended tea to restaurants. To be able to label the tea as South Carolina Tea, at least 55% of the tea (by weight) in the bag must be Carolina grown. Determine the best mix of Carolina and regular tea to..
Develop an initial budget for your plan : Develop an initial budget for your plan. Prepare a pie chart showing the dollars/percentages budgeted for each included marketing activity for the first year. Provide justification for your choices
Consider cost-benefit analysis-accuracy-error-access : Compare and contrast two data-collection techniques and evaluate the sampling strategies discussed. Consider cost-benefit analysis, accuracy, error, access, and time standards.
Find the approximate observed significance level for test : Do the data provide sufficient evidence to indicate that bulbs produced by the suspect line possess a larger variance in length of life than those produced by the line that is assumed to be in control? Use α = .05.
Determine best process for each of volumes : Assume Total units produced annually = 200,000, Total units produced 2000,000 200,000 200,000. determine the best process for each of the following volumes:
Write ethics and social responsibility strategy for starbuck : Ethics in an important aspect of marketing just like it is in all areas of business. There are certain ethical issues that marketers should be aware of. Write an Ethics and Social Responsibility Strategy for Starbucks
Why did toyota wait so long to publically acknowledge : Why did Toyota wait so long to publically acknowledge and replace the faulty accelerator pedals? Changing a culture from one that rewards secrecy to one that is more transparent (especially in a crisis) appears to be difficult. Why?
Which of the given functions is a one-to-one function : A tank holds 100 gallons of water, which drains from a leak at the bottom, causing the tank to empty in 44 minutes. Toricelli's Law gives the volume of water remaining in the tank after t minutes as follows.

Reviews

Write a Review

Microeconomics Questions & Answers

  The conclusion that the level of output is efficient

The conclusion that the level of output is efficient at the market equilibrium rests on all of the following assumptions EXCEPT that __________ . A. buyers and sellers are well-informed B. there are no external costs or benefits

  Could a future advance in technology allow production

Could a future advance in technology allow production beyond the current possibilities curve Could international trade allow a country to consume beyond its current possibilities curve Is production at a point outside the production possibilities c..

  income elasticity of demand for Art Deco lawn furniture

Your firm’s research department has estimated the income elasticity of demand for Art Deco lawn furniture to be -0.85. You have just learned that due to an upturn in the economy, consumer incomes are expected to rise by 5 percent next year. How will ..

  Find the profit in each country determine the combined

the xyz corporation is an american company that manufactures the parts needed for its products abroad in country m. it

  The position of republicans and democrats

Generally speaking what is the position of Republicans and Democrats concerning TAXES and Government spending?

  Why is a fractional reserve banking system so unstable

Why is a fractional reserve banking system so unstable - Describe two ways in which the government regulation has made the fractional the fractional reserve banking system possible.

  The market demand for train service

(b) Suppose that the firm is a monopolist. Assuming the firm produces a positive level of output, calculate the output and price it sets. Explain why the profit-maximizing price is greater than the monopolist's marginal cost.

  What uniform series of cash flows is equivalent

What uniform series of cash flows is equivalent to a $100,000 cash flow, fifteen years from now, if the uniform cash flows occur at the end of the year for the next fifteen years and the periodic interest rate is 8.5 percent compounded yearly?

  Is the company allocating resources efficiently

Graphically illustrate how a 25% decline in the price of business travel was initially $1,200 per trip and the price of electronic media was $600 per hour. Suppose that, after the price of business travel drops. The company issues a report indicat..

  Discuss the given statement

Discuss the following statement. It is important that organizational managers understand that bounded awareness can and will occur in decision making.

  Farmer bean is selling green beans in a purely competitive

Farmer Bean is selling green beans in a purely competitive market. His output is $1,400 units, of which each has a marginal revenue of $2.50. What is his average revenue?

  What is the quantity of apartments demanded

In the absence of rent control, what is the equilibrium rent and what is the equilibrium quantity of apartments rented? Draw a demand and supply graph of the market for apartments to illustrate your answer. In equilibrium, will there be any renter..

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