AstraZeneca is the maker of the stomach medicine Prilosec. Suppose thecompanys management is concerned about the cost of its medicines. Thecompanys internal audit department selected a random sample of 300purchases of Prilosec at drugstores and pharmacies in the United States. Theywished to determine how much customers are spending on this medicine. Inthe sample, the mean price per 20 - milligram tablet of Prilosec was $0.30.The sample had a standard deviation of $0.08. Determine an estimate for theaverage range of costs for a tablet of Prilosec

The given data is as follows:Sample size, Sample mean, Sample standard deviation,

Answered: AstraZeneca is the maker of the stomach…

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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A certain prescription medicine is supposed to contain an average of 250 parts per million (ppm) of a certain chemical. If the concentration is higher than this, the drug may cause harmful side effects; if it is lower, the drug may be ineffective. The manufacturer runs a check to see if the mean concentration in a large shipment conforms to the target level of 250 ppm or not. A simple random sample of 100 portions is tested, and the sample mean concentration is found to be 247 ppm. The sample concentration standard deviation is s = 12 ppm. Suppose that the test statistic was -3.00. What is the p-value for this test? Group of answer choices p-value < 0.0005 0.0005 < p-value < 0.001 0.001 < p-value < 0.0025 0.002 < p-value < 0.005
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A consumer advocacy group is doing a large study on car rental practices. Among other things, the consumer group would like to do a statistical test regarding the mean monthly mileage, u, of cars rented in the U.S. this year. The consumer group has reason to believe that the mean monthly mileage of cars rented in the U.S. this year is different from last year's mean, which was 2750 miles. The group plans to do a statistical test regarding the value of u. It chooses a random sample of monthly mileages and computes the mean of the sample to be 2900miles and the standard deviation to be 800 miles. Based on this information, answer the questions below. What are the null hypothesis (H,) and the alternative hypothesis (H,) that should be used for the test? Ho H is? u is ? In the context of this test, what is a Type II error? A Type II error is ? the hypothesis that u is ? when, in fact, u is ? Suppose that the group decides to reject the null hypothesis. What sort of error might it be…
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