An experiment has been conducted to evaluate a new process for producing synthetic diamonds. A number of diamonds have been generated by the new process with recorded weights of 0.46, 0.61, 0.52, 0.48, 0.57, and 0.54 carat. A study of the process costs indicates that the actual average weight of the diamonds must exceed 0.5 in order that the process be operated at a profitable level. a). At 5% level of significance, is there sufficient evidence to conclude that the process is operating at a profitable level? Your conclusion must be in terms of the P-Value as well as setting up a Rejection Region. You must show all necessary work. b). Which statistical distribution should be applied in this situation and why? Explain carefully. c). What type of error is possible and describe this error in terms of the problem
An experiment has been conducted to evaluate a new process for producing synthetic
diamonds. A number of diamonds have been generated by the new process with recorded
weights of 0.46, 0.61, 0.52, 0.48, 0.57, and 0.54 carat. A study of the process costs
indicates that the actual average weight of the diamonds must exceed 0.5 in order that the
process be operated at a profitable level.
a). At 5% level of significance, is there sufficient evidence to conclude that the process is
operating at a profitable level? Your conclusion must be in terms of the P-Value as
well as setting up a Rejection Region. You must show all necessary work.
b). Which statistical distribution should be applied in this situation and why? Explain
carefully.
c). What type of error is possible and describe this error in terms of the problem
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
