An industrial plant wants to determine which of two types of fuel, electric or gas, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of plants using electricity and plants using gas. These samples consisted of 8 plants using electricity, which had a mean cost per unit of $40.5 and standard deviation of $7.82 , and 14 plants using gas, which had a mean of $51 and standard deviation of $8.49 . Assume that the populations of costs per unit are normally distributed for each type of fuel, and assume that the variances of these populations are equal. Can we conclude, at the 0.01 level of significance, that the mean cost per unit for plants using electricity, μ1 , is less than the mean cost per unit for plants using gas, μ2 ? Perform a one-tailed test. The null hypothesis: H0: The alternative hypothesis: H1: The type of test statistic: (Choose one)ZtChi squareF The value of the test statistic:(Round to at least three decimal places.) The critical value at the 0.01 level of significance:(Round to at least three decimal places.) Can we conclude that the mean cost per unit for plants using electricity is less than the mean cost per unit for plants using gas? Yes No

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Description: An industrial plant wants to determine which of two types of fuel, electric or gas, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of plants using electricity and plants using gas. These samples co

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 industrial plant wants to determine which of two types of fuel, electric or gas, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of plants using electricity and plants using gas. These samples consisted of

plants using electricity, which had a mean cost per unit of

$40.5

and standard deviation of

$7.82

, and

plants using gas, which had a mean of

$51

and standard deviation of

$8.49

. Assume that the populations of costs per unit are normally distributed for each type of fuel, and assume that the variances of these populations are equal. Can we conclude, at the

0.01

level of significance, that the mean cost per unit for plants using electricity,

μ1

, is less than the mean cost per unit for plants using gas,

μ2

Perform a one-tailed test.

The null hypothesis:	H0:
The alternative hypothesis:	H1:
The type of test statistic:	(Choose one)ZtChi squareF

The value of the test statistic: (Round to at least three decimal places.)
The critical value at the 0.01 level of significance: (Round to at least three decimal places.)
Can we conclude that the mean cost per unit for plants using electricity is less than the mean cost per unit for plants using gas?	Yes	No

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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