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Name: Suppose a new construction company claims that, the mean time to compl
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Description: Suppose a new construction company claims that, the mean time to complete a commercial complex is around 15 months. A sample of 16 construction companies are randomly selected and it is found that the mean time taken by them to complete a commercial

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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Suppose a new construction company claims that, the mean time to complete a commercial complex is around 15 months. A sample of 16 construction companies are randomly selected and it is found that the mean time taken by them to complete a commercial complex building was 12.5 with a standard deviation of 2.5 months. At 10% level of significance, do you have sufficient evidence to conclude that the new construction company claim true?

What is the Null hypothesis (H0); Alternate hypothesis (H1); and the direction of the test?

Which distribution is used in this case?

What is the critical value?

What is the Test Statistic Value?

What is the P-value?

What is the conclusion of the test?

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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