(Answered) Use the p-value method to test the given hypothesisa

Economics

Use the P-value method to test the given hypothesis.

A manufacturer makes steel rods that are supposed to have a mean length of 50 cm. A retailer suspects that the rods are running short. A sample of 57 rods is taken and their mean length is determined to be x=51cm with a standard deviation of s = 3.6. Test the retailer's claim that µ < 50cm at the 1 percent level of significance.

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Business Economics, Economics

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