Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed in a mean time of 15 minutes or less. If a longer mean survey time is necessary, a premium rate is charged. Suppose a sample of 35 surveys produces the data in the Microsoft Excel Online file below. Use a known = 4.1 minutes. Is the premium rate justified?

20.3		Sigma Known Case
13.7
16.2		Sample Size			#N/A
18.1		Sample Mean			#N/A
14.1
17.3		Hypothesized Mean Value	15
14.6		Population Standard Deviation	4.1
17.4
18.5
9.7		Level of Significance	0.01
15.1
16.6		Standard Error			#N/A
17		Critical Value			#N/A
14.5		Test Statistic (z)			#N/A
19.6
11.3		p-value (Lower Tail)			#N/A
16.3		p-value (Upper Tail)			#N/A
20.5		p-value (Two Tail)			#N/A
21.7
16.4		Reject Null Hypothesis?			#N/A
12.2
18.5		Data range	A:A
25.9
14.5
21.6
15.6
15.9
14.7
17.6
18
16.7
11.6
16.8
13
13.2

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