Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Discuss the issues of statistical significance and practical importance in each scenario. A process for producing I-beams of oriented strand board used as main support
Discuss the issues of statistical significance and practical importance in each scenario.
- A process for producing I-beams of oriented strand board used as main support beams in new houses has a mean breaking strength of 2,000 pounds/feet. A sample of boards from a new process has a mean breaking strength of 2,150 pounds/feet. The improvement is statistically significant, but the per-unit cost is higher. In what scenario would this matter, if any?
- Under continuous use, the mean battery life in a certain cell phone is 45 hours. In tests of a new type of battery, the sample mean battery life is 46 hours. The improvement is statistically significant, but the new battery cost more to produce. When this improvement make sense and at what price?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started