3. The production manager of a large manufacturing company estimates that the mean age of isemployees is 22.8 years. The treasurer of the firm needs a more accurate employee mean age figurein order to estimate the cost of an annuity benefit program being considered for employees. Thetreasurer takes a random sample of 70 workers and finds out that the mean age of the employeessampled is 26.2 years with a standard deviation of 4.6. At 0.01 level of significance, what can thetreasurer conclude about the accuracy of the production manager's estimate?

Answered: Image /qna-images/answer/2311ae02-a5f8-411b-935c-16530777816d.jpg

Answered: 3. The production manager of a large…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Suppose a small paint manufacturing company has a daily production that is normally distributed with a mean of 5,000 gallons and a standard deviation of 100 gallons. What percent of the time will the daily production be between 4,950 and 5,050 gallons? 61.7% (from calculator and Table B)38.3% (from calculator and Table B)68.0% (from calculator and Table B)30.9% (from calculator and Table B)
In 2019, College Board reported that the mean score for the math section of the SAT was 528 with a standard deviation of 110. A math department at local university would like to give a scholarship to any student that scored in the top 2.5% of students in the math section. What is the minimum score needed to get this scholarship? Assume the scores are normally distributed. A/
5. Old Faithful is a famous geyser at Yellowstone National Park. From a sample of 40 eruptions, the mean duration of Old Faithful eruptions is 3.7 minutes, and the standard deviation is 1.2 minutes. Find the percent of eruptions that have lasted from 1.3 minutes to 6.1 minutes.
Suppose that the annual employer participation in the Canada/Quebec Pension Plan (CPP/QPP) per employee is normally distributed with a standard deviation of $625, but the mean is unknown. If 73.89% of such employer contributions are greater than $1,700, what is the mean annual employer contribution per employee? Suppose the mean annual CPP/QPP employer contribution per employee is $2,259 and the standard deviation is $625. If such employer contributions are normally distributed, 31.56% of the contributions are greater than what value?
A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $55 and a standard deviation of $52. Complete parts (a) and (b) below. a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $51? (Use a 0.01 level of significance.) State the null and alternative hypotheses. Ho: H (Type integers or decimals. Do not round. Do not include the $ symbol in your answer.) Identify the critical value(s). The critical value(s) is/are (Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.) Determine the test statistic. The test statistic, 1STAT, is (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. Ho. There is evidence that the…
A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $58and a standard deviation of $55.Complete parts (a) and (b) below. a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $51? (Use a 0.01 level of significance.) State the null and alternative hypotheses.
At the end of 2015, 2016, and 2017, the average prices of a share of stock in a portfolio were $34.83, $34.65, and $31.26 respectively. To investigate the average share price at the end of 2018, a random sample of 30 stocks was drawn and their closing prices on the last trading day of 2018 were observed with a mean of 33.583 and a standard deviation of 19.149. Estimate the average price of a share of stock in the portfolio at the end of 2018 with a 95% confidence interval. Compare and Briefly discuss
Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of 8vmillion dollars and a standard deviation of 1.1million dollars. One health care information systems company considers a quarter a "failure" if its sales level that quarter is in the bottom 15%of all quarterly sales levels. Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered "failures" by that company and quarters that are not. Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.
1) A half-century ago, the mean height of women in a particular country in their 20s was 63.7 inches. Assume that the heights of today's women in their 20s are approximately normally distributed with a standard deviation of 2.31 inches. If the mean height today is the same as that of a half-century ago, what percentage of all samples of 26 of today's women in their 20s have mean heights of at least 65.04 inches?

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS