A chips company claims that their "vinegar and salt" chips bags have a mean weight of 5 ouncesfollowing a normal distribution. To test this hypothesis, you select a random sample of 16 bagsand find that the mean and standard deviation of this sample are 4.7 ounces and 0.5 ounces,respectively.(a) Use a significance level 0.01 to test the above hypothesis. What is your conclusion? (you needto clearly state the null and alternative hypotheses and show all the necessary steps to get the fullscore).(b) Illustrate the critical region for the above test. ((c) Find a 90% confidence interval for the population variance. ((d) Assume in the main problem description, the population standard deviation was known to be0.7. Using this new information, calculate the p-value of the test based on the same sampleinformation and hypothesis. Based on the calculated p-value and the significance level of 0.1, whatconclusion do you make?

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Answered: A chips company claims that their…

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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An auditor, pressed for time and on a low budget, is concerned with account errors on customer credit. She takes a sample of 25 accounts, and finds the account error, on average, is $-23, with a standard deviation of $16. Is the claim of the manager that errors average only $-10 supported? In this case, the null hypothesis is what?
You are a manager of a building that hosts the local farmers market for a town. You want to investigate if the average amount of sales for a vendor per week at your building is greater than $2040. After surveying 17 of their vendors, you find that mean sales per week of the vendors sampled was $2110 with a standard deviation of $114.03. What is the value of the test statistic for your hypothesis test? Note: 1- Only round your final answer. Round your final answer to two decimal places.
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The accounts of a corporation show that on average, accounts payables are $125 with standard deviation of $25. An auditor checked a random sample of 20 accounts whose mean was $129. Assume that the population distribution is normal. Test the null hypothesis that the mean payables are $125 against a two- sided alternative at 5% significance level. State the null and the alternative hypothesis and comment whether its a one tail or two tail test? If one tail then right or left tail test? (write your answer as one tail right tail test/ one tail left tail test/ two tail test) Identify the critical value. Ans in two decimal places. What is the calculated value? Ans in two decimal places Write the decision rule and identify whether the condition holds. (write answer as condition holds/ condition does not hold) Give final decision (write answer as reject null/ do not reject null)
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Which is cheaper: eating out or dining in? The mean cost of a steak, salad, and rice bought at the grocery store is $13.04. A sample of 30 neighborhood restaurants showed a mean price of $12.15 and a standard deviation of $2 for a comparable restaurant meal. 1.1) Develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than $13.04. 1.2) At alpha = 0.05, what is your conclusion? Show a detailed solution to support your conclusion. (Find p-values at: https://www.socscistatistics.com/pvalues/tdistribution.aspx)
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