Question

In: Statistics and Probability

The article "Uncertainty Estimation in Railway Track Life-Cycle Cost"† presented the following data on time to...

The article "Uncertainty Estimation in Railway Track Life-Cycle Cost"† presented the following data on time to repair (min) a rail break in the high rail on a curved track of a certain railway line.

159    120    480    149    270    547    340    43    228    202    240    218

A normal probability plot of the data shows a reasonably linear pattern, so it is plausible that the population distribution of repair time is at least approximately normal. The sample mean and standard deviation are 249.7 and 145.1, respectively.(a) Is there compelling evidence for concluding that true average repair time exceeds 200 min? Carry out a test of hypotheses using a significance level of 0.05.
State the appropriate hypotheses.

H0: μ = 200
Ha: μ ≠ 200H0: μ > 200
Ha: μ = 200    H0: μ = 200
Ha: μ < 200H0: μ < 200
Ha: μ = 200H0: μ = 200
Ha: μ > 200


Calculate the test statistic and determine the P-value. (Round your test statistic to two decimal places and your P-value to four decimal places.)

t =
P-value =


(b) Using  σ = 150,

what is the type II error probability of the test used in (a) when true average repair time is actually 300 min? That is, what is β(300)? (Round your answer to two decimal places.)
β(300) = _______________________

Solutions

Expert Solution


orchestra answered 2 years ago
Next > < Previous

Related Solutions

At 10% per year, determine the annual life cycle cost for the following data. Component Estimated...
At 10% per year, determine the annual life cycle cost for the following data. Component Estimated cost Development $100,000 now Programming $20,000 now $ 10,000 years 1-4 $15, 000 years 5-6 Operation $8,000 years 1-6 Support $ 4,000 years 1-3 $214,200 $217,240 $49,200 $49,940
stages of life cycle cost with definition effects of life cycle costing
stages of life cycle cost with definition effects of life cycle costing
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies....
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. Last year the average life expectancy of all policyholders was 77 years. ABI Insurance wants to determine if their clients now have a longer life​ expectancy, on​ average, so they randomly sample some of their recently paid policies. The insurance company will only change their premium structure if there is evidence that people who buy their policies are living longer than before. Which of...
The following sample data represents the life cycle in months of two car batteries: A: 62,...
The following sample data represents the life cycle in months of two car batteries: A: 62, 59, 59, 51, 55, 53, 58, 49, 61, 55 B: 45, 50, 47, 46, 48, 46, 45, 46, 51, 49, 47, 49, 48, 45, 57 Is the variation in life cycle the same between batteries at lambda=.05? Are the means the same as well at lambda=.05? Which battery would you choose and why?
The following sample data represents the life cycle in months of two car batteries: A: 62,...
The following sample data represents the life cycle in months of two car batteries: A: 62, 59, 59, 51, 55, 53, 58, 49, 61, 55 B: 45, 50, 47, 46, 48, 46, 45, 46, 51, 49, 47, 49, 48, 45, 57 Is the variation in life cycle the same between batteries at lambda=.05? Are the means the same as well at lambda=.05? Which battery would you choose and why?
DEF Manufacturing Company presented the following data: Cost of goods manufactured and cost of goods sold...
DEF Manufacturing Company presented the following data: Cost of goods manufactured and cost of goods sold were P375,000 and P300,000, respectively. Purchases of raw materials amounted to twice as much as the net income before tax. Gross margin based on sales was 40%. There were no purchase returns but the sales returns amounted to P10,000. Inventory valuations were as follows: Raw materials on hand at the end of the period was 1/3 as much as much as at start. Work...
Please read the following article: Akerlof, G. A. The market for “lemons”: Quality uncertainty and the...
Please read the following article: Akerlof, G. A. The market for “lemons”: Quality uncertainty and the market mechanism. The Quarterly Journal of Economics. 1970. Question A 1. Please summarize the article of "the Market for lemon", 2.Discuss how accounting plays a role to create a "healthy" capital market. 3. What are the information asymmetry and adverse selection in the article? Question B Read PVModel.pdf 1. After reading the "PV model under certainty", please complete the second-year B/S and I/S of...
Dean made a statistical estimation of the cost-output relationship for a shoe store. The data for...
Dean made a statistical estimation of the cost-output relationship for a shoe store. The data for the firm is given in the following table. x 4.5 7 9 10 15 20 33 50 y 3 3.3 3.4 3.5 4.5 5.5 7.5 12 Here x is the output in thousands of pairs of shoes, and y is the cost in thousands of dollars. A. Determine the best-fitting line (using least squares). S1(x) = Incorrect: Your answer is incorrect. r2 = B....
Data for Cash Flow Estimation for an Expansion Project • Cost of new equipment: $200,000 •...
Data for Cash Flow Estimation for an Expansion Project • Cost of new equipment: $200,000 • Life of the project: 5 years • Depreciation for equipment: Straight-line to zero over five years • Investment (increase) in net working capital: $30,000 • Annual sales: $220,000 • Annual cash operating expenses: $90,000 • Income tax rate: 40% • At the end of year five, the company will sell off the equipment for $50,000. • At the end of year five, the firm...
Calculating Cycle Time and Velocity Indy Company has the following data for one of its manufacturing...
Calculating Cycle Time and Velocity Indy Company has the following data for one of its manufacturing plants: Maximum units produced in a quarter (3-month period): 250,000 units Actual units produced in a quarter (3-month period): 199,000 units Productive hours in one quarter: 25,000 hours Required: 1. Compute the theoretical cycle time (in minutes). minutes per unit 2. Compute the actual cycle time (in minutes). Round your answer to two decimal places. minutes per unit 3. Compute the theoretical velocity in...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT