able to conclude that the mean gain or loss in time for thne watches is 0? Use the 010 significance level. el of 0.10 signiticence, we reject Ho: H =0. (Negative answer should be indicated by a minus sign. Round the mal places.) or t> reject Ho the value of the test statistic? (Round the final answer to 3 decimal places.) ne test statistic=
able to conclude that the mean gain or loss in time for thne watches is 0? Use the 010 significance level. el of 0.10 signiticence, we reject Ho: H =0. (Negative answer should be indicated by a minus sign. Round the mal places.) or t> reject Ho the value of the test statistic? (Round the final answer to 3 decimal places.) ne test statistic=
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![The Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time during a week. A sample of 18
watches provided the following gains (+) or losses (-) in seconds per week
+0.42
-e.35
0.12
e.59
0.21
0. 59
-0.71
e.74
0.62
-0.89
0.69
-0.67
0.30
-0.40
-0.36 0.54
0.41
0.74
Ho H=0
Is it reasonable to conclude that the mean gain or loss in time for the watches is 0? Use the 010 significance level.
a. At a level of 0.10 significance, we reject Ho: µ = 0. (Negative answer should be indicated by a minus sign. Round the final answers
to 3 decimal places.)
If r<
or t>
reject Ho
b. What is the value of the test statistic? (Round the final answer to 3 decimal places.)
Value of the test statistic =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd9b99642-650b-43a5-bb64-38df0e958ba1%2F0f9cc302-fee4-4852-82c3-c3cd9cd95764%2Fmk2phwf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time during a week. A sample of 18
watches provided the following gains (+) or losses (-) in seconds per week
+0.42
-e.35
0.12
e.59
0.21
0. 59
-0.71
e.74
0.62
-0.89
0.69
-0.67
0.30
-0.40
-0.36 0.54
0.41
0.74
Ho H=0
Is it reasonable to conclude that the mean gain or loss in time for the watches is 0? Use the 010 significance level.
a. At a level of 0.10 significance, we reject Ho: µ = 0. (Negative answer should be indicated by a minus sign. Round the final answers
to 3 decimal places.)
If r<
or t>
reject Ho
b. What is the value of the test statistic? (Round the final answer to 3 decimal places.)
Value of the test statistic =
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