Perform appropriate hypothesis test to test claim of firm

Assignment Help Basic Statistics
Reference no: EM13123226

An engineering firm is evaluating their back charges, and from this they claim that their average back charge is $1800. They randomly select 40 customers, and calculate the sample mean back charge to be $1925. If the standard deviation of back charges is $600, and alpha = 0.05, test the claim of the engineering firm. Perform an appropriate hypothesis test, showing the necessary calculations and/or explaining the process used to obtain the results.

Reference no: EM13123226

Questions Cloud

Equation of a secant line : F(x)=x^2+2x-6 X(1)=2 and x(2)=-1 I have to find the secant line of this graph but can not remember how to find the points to graph the equation
What percentage of the ore is gold : If the mass of the ore from which the gold was extracted is 166.0 g, what percentage of the ore is gold.
Expressing volumes and change of volume : A rectangular storage unit has dimensions 1m by 2m by 3m. If each linear dimension is increased by the same amount. What increase would result in a new storage unit with a volume 10 times the original?
Calculate the direct labor rate and efficiency variances : Calculate the Direct labor rate and efficiency variances. Use the back of your answer sheet.
Perform appropriate hypothesis test to test claim of firm : Test the claim of the engineering firm. Perform an appropriate hypothesis test, showing the necessary calculations and/or explaining the process used to obtain the results.
Warranty expenditures during the year : In the current year, Hanna Company reported warranty expense of $183,000 and the warranty liability account increased by $28,000. What were warranty expenditures during the year?
Data relating to balances of various accounts : The 2010 income statement showed interest revenue in the amount of $4,900. You are to provide the missing adjusting entry that must have been made, assuming reversing entries are not made. For each journal entry write Dr for debit and Cr for credi..
Replenishing replenishing : Give an analysis of the language, tone, structure and meaning of the poem 'Praise Song For My Mother' by Grace Nichols?
Compute the direct materials price and quantity variances : These 5,000 puzzles used 50,000 diodes at an actual cost $0.28 per diode. All 50,000 diodes were used and there was no ending inventory. Compute the Direct materials price and quantity variances. Use the back of your answer sheet.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Find standard error for the sample mean salary

Standard deviation of $1.2 million in 2009. Suppose a sample of 100 major league players was taken. What was the standard error for the sample mean salary?

  Calculating beta for the test

Use a significance level of alpha = .05 to test the claim that p > .5. The sample is a simple random sample n = 50. Show how to calculate beta for the test and assume the true population proportion is .6.

  Recommendation of a safety stock level

Linda would like to maintain a 90% service level. what safety stock level do you recommend for BX-5?

  Confidence interval for the population mean

Determine the 95% confidence interval for the population mean, based on the sample mean.

  How large sample is so proportion not differ true proportion

How large a sample is needed in order to be 98% confident that the sample proportion will not differ from the true proportion by more than 6%?

  Explain why confident sales rose by six percent

Explain in language that the manager can understand why we cannot be confident that sales rose by 6%, and that in fact sales may even have dropped.

  Negative expected return

Assume rf is 5% and rm is 10%. According to the SML and CAPM, an asset with a beta of -2.0 has a required return of negative 5%[=5-2(10-5)]. Can this be possoble?

  Value of probability having sample mean

A random sample of n = 16 scores is selected from a normal distribution with a mean of μ = 50 and standard deviation of σ = 10. a) What is the probability that the sample mean will have a value between 45 and 55?

  Find how many encounter undesirable side effects

The theoretical probability of undesirable side effects resulting from taking Grebex is 1 in 11. If 121 people take Grebex to lower their blood pressure, how many will encounter undesirable side effects?

  Compute probability that stations detecting enemy plane

There are 3 radar stations and the probability of a single radar station detecting an enemy plane is 0.65. What is the probability of 2 stations detecting an enemy plane? Round your answer to nearest hundredth.

  Function for total asset position

Pierre has a utility function for total asset position of u(x)=ln(x), His assets currently consist of $50,000 in cash and a rare violin he inherited from a rich uncle which is valued at $100,000.

  Error of time series forecasting

The measure of forecast accuracy that is not influenced by the measurement scale of the time series data is:

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