Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company is studying the average manufacturing time of the same product two years ago (denoted Year 1) and last year (denoted Year 2). Independent

A company is studying the average manufacturing time of the same product two years ago (denoted Year 1) and last year (denoted Year 2). Independent random samples have been selected from each year and the results (in minutes) are shown below.

Year 1 Year 2
Sample Size 20 25
Sample Mean 14 12

Sample standard deviation 6 9

1. a) Use the 10% level of significance and the p-value approach to determine if the average manufacturing time of the product decreased over time.

1. b) Construct a 99% confidence interval estimate of the difference between the average manufacturing time in Year 1 and the average manufacturing time in Year 2.

Step by Step Solution

3.39 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Statistics A Decision Making Approach

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry

9th Edition

013302184X, 978-0133021844

Students also viewed these Accounting questions

Question

If one movie ticket costs $13.50, how much will y tickets cost?

Answered: 1 week ago

Question

Why is rejecting ????0 a reliable decision?

Answered: 1 week ago

Question

Newtons second law says So is a force? Explain.

Answered: 1 week ago