Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

A wine producer claims that the proportion of its customers who cannot distinguish its product from frozen grape juice is at most 0.09. The producer decides to test this null hypothesis against the alternative that the true proportion is more than 0.09. The decision rule adopted is to reject the null hypothesis if the sample proportion of people who cannot distinguish between these two flavors exceed 0.14.

a) If a random sample of 400 customers is selected, what is the probability of Type I error using this decision rule?

b) Suppose that the true proportion of customers who cannot distinguish between these flavors is 0.20. If a random sample of 100 customers is selected, what is the probability of a type II error?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M948131

Have any Question? 


Related Questions in Microeconomics

Economic paper projectthe microeconomic paper tests your

Economic Paper Project The Microeconomic Paper tests your ability to apply economic principles to a business decision. Select one situation from the items outlined below: A toD. Complete the paper on the selected situati ...

Assessmentanswer all questions each is worth 15 marks for

ASSESSMENT: Answer all questions, each is worth 1.5 marks. For detailed assessment criteria see the subject guide, which also explains that the assessment looks at the quality of your answers, not the quantity. You can b ...

Recall from lecture the two facts we discussed one no

Recall from lecture the two facts" we discussed: One, no product exists at a vacuum; and two relationships among products change over time. Recall the background factors of demand: consumer preferences/ Wants; consumer i ...

Assignment market formsfor this assignment you will do a

Assignment: Market Forms For this assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions ...

Principles of economics1 which statement is truea today

Principles of Economics 1. Which statement is true? A) Today more workers in the U.S. are members of labor unions than any time in our history. B) Today labor unions are weaker than any time in the last 100 years. C) No ...

Economics assignmentactivity 1 - the budget constraintgraph

Economics Assignment Activity 1 - The Budget Constraint Graph an example of a budget constraint (or the consumption choice opportunity frontier) for the purchase of two different goods or services. State the budget in th ...

Discussion forumtopicsanother reason to hate the yankeesand

DISCUSSION FORUM Topics: Another reason to hate the Yankees...and the Red Sox, the Dodgers, the Cardinals, even the Pirates Yankee Stadium and the Power of Sports Monopolies http://www.realclearmarkets.com/articles/2009/ ...

You have to watch a video in youtube the age of uncertainty

You have to watch a video in youtube :The Age of Uncertainty Episode 1 - The Prophets and Promise of Classical Capitalism link is: https://www.youtube.com/watch?v=KGSID_Uyw7w and then write a 3pages on answering these fi ...

Assignment current economics analysisthere are two internet

Assignment: Current Economics Analysis There are two Internet Questions included with this assignment. Problem 1 Could we ever achieve an unemployment rate below "full" employment? What problems might we encounter if it ...

Evaluating the effectiveness of pre-positioning policies in

Evaluating the Effectiveness of Pre-Positioning Policies in Response to Natural Disasters EXPERIMENTAL DESIGN Objectives The intent of this research is to understand the impact of implementing a local pre-positioning str ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate