QuickHelper

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About QuickHelper

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Teaching Since: May 2017
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  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Statistics Posted 06 Sep 2017 My Price 11.00

Adv bus Stats

A national grocer’s magazine reports the typical shopper spends 7 minutes in line waiting to check out. A sample of 17 shoppers at the local Farmer Jack’s showed a mean of 6.4 minutes with a standard deviation of 4.3 minutes.

Is the waiting time at the local Farmer Jack’s less than that reported in the national magazine? Use the 0.050 significance level.

a.

What is the decision rule? (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)
  Reject H0: µ ≥ 7 and fail to reject H1: µ < 7 when the test statistic is
.  
b.

The value of the test statistic is . (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.)

c. What is your decision regarding H0? Do not reject H0Reject H0

Answers

QuickHelper
(10)
Status NEW Posted 06 Sep 2017 05:09 AM My Price 11.00

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