A market study for a new industrial product indicates that the product should be launchedby the firm only if the mean number of units purchased per customer in the first solicitationof the firm's customers is more than 2.0. Initial orders for the product are to be solicitedfrom a random sample of 100 of the firm's many customers and the sample mean iscomputed as 2.2. The standard deviation of the numbers of units purchased in initial ordersis assumed to be 1.6 units.Answer the following questions according to the text above.1- Choose the relevant hypotheses.Ho:2- Compute the test statistic.3- if the significance level is 0.05, what is the decision rule for the test.(Note that; za means z, or ta(df)means t(df) )4- State your decision and conclusion at a significance level of 0.05.5- Calculate the p-value for the test.

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Description: A market study for a new industrial product indicates that the product should be launchedby the firm only if the mean number of units purchased per customer in the first solicitationof the firm's customers is more than 2.0. Initial orders for the pr

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Answered: 1- Choose the relevant hypotheses. Ho:…

Math

Statistics

1- Choose the relevant hypotheses. Ho: 2- Compute the test statistic. 3- if the significance level is 0.05, what is the decision rule for the test. (Note that; za means z, or ta(dr means t,(df))

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The test of significance is 2.060