A national grocers magazine reports the typical shopper, Ask an Expert

Statistics

A national grocer's magazine reports the typical shopper spends nine and half minutes in line waiting to check out. A sample of 15 shoppers at the local Farmer Jack's showed a mean of 4.2 minutes with a standard deviation of 3.8 minutes. Is the waiting time at the local Farmer Jack's less than that reported in the national magazine? Use the 0.01 significance level.

(a) What is the decision rule? (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.) Reject H0: µ ? 9.5 and fail to reject H1: µ < 9.5 when the test statistic is.

(b) The value of the test statistic is . (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.)

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91010940

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

1 suppose you purchase anbsp10-year bond with 64annual

1) Suppose you purchase a 10-year bond with 6.4%annual coupons. You hold the bond for four years, and sell it immediately after receiving the fourth coupon. If the bond's yield to maturity was 5.4% when you purchased and ...

A 20-year canada bond with an 8 semi-annual coupon is

A 20-year Canada bond with an 8% semi-annual coupon is currently selling at par ($1,000) and the probability distribution of its yield to maturity (YTM) a year from now is as follows: State of Economy Probability YTM (%) ...

A researcher randomly assigned 160 subjects into one of two

A researcher randomly assigned 160 subjects into one of two groups: Atkins diet or Weight Watchers. The response variable was weight change in pounds after 6 weeks. The t-test results showed a p-value=.049. What can be c ...

Consider the following cash flowsyear cash flow0 -59001

Consider the following cash flows: Year Cash Flow 0 -$5,900 1 2,000 2 2,700 3 1,500 4 900 What is the payback period for the above set of cash flows? In years

If a study was done to measure the total brain volume of

If a study was done to measure the total brain volume of patients that had schizophrenia and also of patients that are normal. Table 1 has the total brain volume of the normal patients and table 2 has the total brain vol ...

In a sample of 41 temperature readings taken from the

In a sample of 41 temperature readings taken from the freezer of a restaurant, the mean is 29.7 degrees and the standard deviation is 2.7 degrees. What would be the 80% confidence interval for the temperatures in the fre ...

In the game of roulette a player can place a 7 bet on the

In the game of? roulette, a player can place a ?$7 bet on the number 18 and have a 1/38 probability of winning. If the metal ball lands on 18?, the player gets to keep the ?$7 paid to play the game and the player is awar ...

Using excel a manufacturer of celsius thermometers claims

Using Excel, A manufacturer of Celsius thermometers claims the thermometers they produce have an average (mean) reading of 0 degrees Celsius and a standard deviation of 1 degree Celsius for freezing water . If one of the ...

In a class there are 7 girls and 5 boys the median age of

In a class there are 7 girls and 5 boys. The median age of the 7 girls is 12 and the median age of the 5 boys is 14. Additionally, you know that there are 3 girls with age greater than 14 and 2 boys with age less than 12 ...

Your company is considering a new project that will require

Your Company is considering a new project that will require $18,000 of new equipment at the start of the project. The equipment will have a depreciable life of 5 years and will be depreciated to a book value of $3,000 us ...

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

Recent Questions

Ask Statistics and Probability Expert