Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Q. A car manufacturer claims that its vehicles average at least 25 miles per gallon, with a population standard deviation of σ=2. We take a sample of n=36 cars to test fuel efficiency, and with to performance a one-sided hypothesis test of the manufacturer's claim at a level of α=.05.

a. What is the critical value for the sample mean?

b. Suppose the answer to part a, is 23.5 (it is not, but assume it is to do part b). If the true value of efficiency in the population is 22.75, what is the power of this hypothesis test?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M9157355

Have any Question?


Related Questions in Business Economics

Suppose mpc is 07 government spending increases by 10

Suppose MPC is 0.7. Government spending increases by $10 billion, and taxes decrease by $5 billion. How would the following items change, and by how much? Disposable income Private saving Public( Government) saving Equil ...

Qxd 14 - 12 pxnbspnbspnbspandnbspqxs 14pxnbsp-

QXd = 14 - (1/2) P X    and QXS = (1/4)P X  - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price a ...

At litchfield college of nursingnbsp85nbspof incoming

At Litchfield College of Nursing, 85% of incoming freshmen nursing students are female and 15% are male. Recent records indicate that 70% of the entering female students will graduate with a BSN degree, while 80% of the ...

Investors are evaluating two 6-year bonds at time t in a

Investors are evaluating two 6-year bonds at time t in a financial crisis setting where there is a strong likelihood of default. Assume the following values for the probability of default (z) of the two bonds, issued res ...

Recent tariff actions by president trump include raising

Recent tariff actions by President Trump include raising tariffs and quotas on imports of both manufactured goods like televisions and automobiles and intermediate goods like steel and aluminum sheets. How will the econo ...

Assume that the number of customers who arrive at a water

Assume that the number of customers who arrive at a water ice stand follows the Poisson distribution with an average rate of 6.4 per 30 minutes. What is the probability that more than one customer will arrive during the ...

One box has 4 cards in it of the same suit numbered 2 4 6

One box has 4 cards in it of the same suit numbered 2, 4, 6, and 9. A second box contains 3 cards again of the same suit numbered 2, 3 and 6. One card is drawn at random from each box. Draw the tree diagram showing the c ...

What level of measurement is required for qualitative

What level of measurement is required for qualitative variables? What level of measurement is required for quantitative variables? Can both types be used to describe both samples and populations? Why or why not?

In a survey of women in a certain country ages 20-29 the

In a survey of women in a certain country? (ages 20-?29), the mean height was 65.3 inches with a standard deviation of 2.71 inches. Answer the following questions about the specified normal distribution. ?(a) What height ...

If the federal government for the united states outlays for

If the federal government for the United States outlays for transfers and purchases of goods and services divided by the gross domestic product  remains the same  next year, what does this mean forthe government's influe ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As