The manufacturer of the X-15 steel-belted radial truck tire claims that the mean mileage the tire can

Question:

The manufacturer of the X-15 steel-belted radial truck tire claims that the mean mileage the tire can be driven before the tread wears out is 60,000 miles. Assume the mileage wear follows the normal distribution and the standard deviation of the distribution is 5,000 miles. Crosset Truck Company bought 48 tires and found that the mean mileage for its trucks is 59,500 miles. Is Crosset’s experience different from that claimed by the manufacturer at the .05 significance level?

(a) State the null hypothesis and the alternate hypothesis.

(b) State the decision rule.

(d) What is your decision regarding H0?

(e) What is the p-value? Interpret it.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...