Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...


−0.30	−0.27	−0.34	−0.25	+0.31	−0.20	+0.36	+0.24	−0.19
−0.40	−0.49	−0.55	−0.55	−0.67	−0.03	−0.23	−0.54	+0.08

State the null hypothesis and the alternate hypothesis.

State the decision rule for 0.02 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.)

Is it reasonable to conclude that the mean gain or loss in time for the watches is 0? Use the 0.02 significance level.

Estimate the p-value.

Solutions

Expert Solution

State the null hypothesis and the alternate hypothesis :

null hypothesis:		μ	=	0
Alternate Hypothesis:		μ	≠	0

decision rule for 0.02 significance level : reject Ho if t >2.567 or t<-2.567

value of the test statistic =-3.080

p value =0.007

reject Ho

orchestra answered 1 year ago

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