Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have an internship at the Gillette World Shaving Headquarters in Boston. The company is devel- oping a new line of razors and management

image

You have an internship at the Gillette World Shaving Headquarters in Boston. The company is devel- oping a new line of razors and management asks you to conduct market research on men's shaving habits. You conduct a survey where a sample of men report the number of times that they shave in one week. Suppose you know that the number of times per week men shave in the population is normally distributed with a variance of 2. You hypothesize that in the population, men shave 4 times per week. You pick 10 persons at random and you find that they shave 3 times per week on average. a. (5 pts) Is this a one-sided or two-sided hypothesis test? Why? b. (5 pts) Complete a hypothesis test at a 5 percent significance level. Clearly specify the following: i. The null and alternative hypotheses. ii. The critical values for the test. iii. Any values that will cause you to reject your null hypothesis. iv. Your actual test statistic. v. The conclusion you draw from your results. Now, suppose that you randomly select 121 men and find they shave 3.98 times per week on average. c. (5 pts) Complete a hypothesis test at a 10 percent significance level. Report all of the same items requested in part b. for this hypothesis test. d. (5 pts) What is the p-value in this case? e. (5 pts) Calculate the power of this test if the true mean is 3.8 times per week.

Step by Step Solution

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

Marketing Strategy

Authors: O.C. Ferrell, Michael D. Hartline

5th edition

538467384, 053846738X, 978-0538467384

More Books

Students also viewed these Mathematics questions

Question

What are the purpose and importance of a procedures manual?

Answered: 1 week ago

Question

What are the conceptual underpinnings of a dual-brand strategy?

Answered: 1 week ago

Question

Explain how sleep, exercise, and diet affect memory.

Answered: 1 week ago