Explain interpret the meaning of the p-value in this problem, Operation Management

Assignment Help:

Initially, the mean turnaround time for a stress test was 68 hours. After incorporating changes into the stress-test process, the quality improvement team collected a sample of 50 turnaround times. In this sample, the mean turnaround time was 32 hours, with a standard deviation of 9 hours.

a. If you test the null hypothesis at the 0.01 level of significance, is there evidence that the new process has reduced turnaround time?

b. Interpret the meaning of the p-value in this problem

Related Discussions:- Explain interpret the meaning of the p-value in this problem

Explain the effective integration of information, Q. Explain the effective ...

Q. Explain the effective integration of information in enterprise-wide systems. Enterprise-wide systems enable the consequence on various enterprise support resources or busine

Describe seminar for golden age to break even, Golden age retirement planne...

Golden age retirement planners specializes in providing financial advice for people planning for a comfortable retirement. The company offers seminars on the important topic of ret

Explain what are the primary pruposes of holding inventory, The key points ...

The key points in Chapter 12 (Chapter 13) tell us that good inventory management is important for successful organizations. The key issues are when to order and how much to order.

Explain what will happen to the eoq, Part 1: A company is using the Econ...

Part 1: A company is using the Economic Order Quantity (EOQ) model to manage its inventories. Suppose its inventory holding cost per unit per year doubles while the annual deman