Nancy believes that the average running time of movies is equal to 140 minutes. A sample of 4 movies was taken and the following running times were obtained. Assume the population of the running times is normally distributed. 150 150 180 170

a. Compute the sample mean and the standard deviation.
b. State the null and alternative hypotheses.
c. Using the critical value approach, test the hypotheses at the 10% level of significance.
d. Using the p-value approach, test the hypotheses at the 10% level of significance.


a. ? = 162.5 s = 15
b. H0: ? = 140
Ha: ? ? 140
c. Reject H0; test statistic t = 3 > 2.353
d. The p-value is between .05 to .10; Reject H0

Business

You might also like to view...

The liability of a stockholder is usually limited to the stockholder's investment in the corporation

Indicate whether the statement is true or false

Business

The local sandwich shop has always sold calorie-laden sandwiches and recently introduced six new sandwiches featuring vegetables and lower-calorie meats and cheeses to appeal to health-conscious customers. What strategy is the sandwich shop pursuing?

A. 80/20 rule B. tertiary target marketing C. one-to-one marketing D. repositioning E. concentration

Business

Despite the Antimerger Act, there has been some leniency in allowing mergers between firms that have been competitors. When considering a merger, companies should take this aspect of the ________ environments into consideration.

A. cultural and economic B. technological and legal C. political and economic D. legal and political E. social and cultural

Business

High yield (junk) bond funds focus on relatively risky bonds issued by firms that are subject to

A) default risk. B) interest rate risk. C) exchange risk. D) management risk.

Business