An automobile manufacturer substitutes a different engine in cars that were known to have an average miles-per-gallon rating of 31.5 on the highway with SD=6.6. The manufacturer wants to examine whether the new engine changes the miles-per-gallon rating of the auto-mobile model. A random sample of 100 trial runs gives on average of 29.8 miles per gallon. Is the average miles-per-gallon rating on the highway for cars using the new engine different from the rating for cars using the old engine? Make your conclusion based on a) Critical value at 5% level of significance. b) 95% CI for the mean of miles-per-gallon. c) P-value
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
An automobile manufacturer substitutes a different engine in cars that were known to have an average miles-per-gallon rating of 31.5 on the highway with SD=6.6. The manufacturer wants to examine whether the new engine changes the miles-per-gallon rating of the auto-mobile model. A random sample of 100 trial runs gives on average of 29.8 miles per gallon. Is the average miles-per-gallon rating on the highway for cars using the new engine different from the rating for cars using the old engine? Make your conclusion based on
a) Critical value at 5% level of significance.
b) 95% CI for the mean of miles-per-gallon.
c) P-value
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