Hello, can you help me solve these business statistics problems? Thank you!
Because of high production-changeover time and costs, a director of manufacturing must convince management that a proposed manufacturing method reduces costs before the new method can be implemented. The current production method operates with a mean cost of $220 per hour. A research study will measure the cost of the new method over a sample production period. (a) Develop the null and alternative hypotheses most appropriate for this study. O Ho: H > 220 Ha: HS 220 Ho: H = 220 H: u # 220 HO: M 220 (b) Comment on the conclusion when H cannot be rejected. There is enough evidence to conclude that the new method reduces costs. Management should not consider implementing the new method. There is not enough evidence to conclude that the new method reduces costs. Management should consider implementing the new method. There is not enough evidence to conclude that the new method reduces costs. Management should not consider implementing the new method. There is enough evidence to conclude that the new method reduces costs. Management should consider implementing the new method. (c) Comment on the conclusion when Ho can be rejected. There is enough evidence to conclude that the new method reduces costs. Management should not consider implementing the new method. There is not enough evidence to conclude that the new method reduces costs. Management should consider implementing the new method. O There is not enough evidence to conclude that the new method reduces costs. Management should not consider implementing the new method. O There is enough evidence to conclude that the new method reduces costs. Management should consider implementing the new method.(c) x = 51.9 Find the value of the test statistic. State the critical values for the rejection rule. (If the test is one-tailed, enter NONE for the unused tail.) test statistic s test statistic 2 State your conclusion. O Reject Ho. There is insufficient evidence to conclude that u > 50. O Reject Ho. There is sufficient evidence to conclude that / > 50. O Do not reject H . There is sufficient evidence to conclude that u > 50. O Do not reject H . There is insufficient evidence to conclude that / > 50.Suppose a new production method will be implemented if a hypothesis test supports the conclusion that the new method reduces the mean operating cost per hour. (a) State the appropriate null and alternative hypotheses if the mean cost for the current production method is $210 per hour. O Ho: us 210 H: u > 210 O Ho: H = 210 Ha: M # 210 Ho: H 2 210 OH: M 210 Ha: US 210 O Ho: H 210 when the method really would lower costs. This mistake could result in not implementing a method that would lower costs. (c) What is the type II error in this situation? What are the consequences of making this error? It would be claiming u s 210 when the new method does not lower costs. This mistake could result in implementing the method when it would not lower costs. It would be claiming a 210 when the method really would lower costs. This mistake could result in not implementing a method that would lower costs. Need Help? Read ItConsider the following hypothesis test. Ho: us 50 Ha: H > 50 A sample of 60 is used and the population standard deviation is 8. Use the critical value approach to state your conclusion for each of the following sample results. Use a = 0.05. (Round your answers to two decimal places.) (a) x = 52.2 Find the value of the test statistic. State the critical values for the rejection rule. (If the test is one-tailed, enter NONE for the unused tail.) test statistic s test statistic 2 State your conclusion. O Reject Ho. There is insufficient evidence to conclude that / > 50. O Reject H . There is sufficient evidence to conclude that u > 50. O Do not reject Ho. There is sufficient evidence to conclude that / > 50. O Do not reject Ho. There is insufficient evidence to conclude that u > 50. (b) x = 51 Find the value of the test statistic. State the critical values for the rejection rule. (If the test is one-tailed, enter NONE for the unused tail.) test statistic s test statistic > State your conclusion. O Reject Ho. There is insufficient evidence to conclude that u > 50. O Reject H . There is sufficient evidence to conclude that u > 50. O Do not reject Ho. There is sufficient evidence to conclude that u > 50. O Do not reject H . There is insufficient evidence to conclude that u > 50
