In: Statistics and Probability
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed in a mean time of 15 minutes or less. If a longer mean survey time is necessary, a premium rate is charged. Suppose a sample of 35 surveys produces the data in the Microsoft Excel Online file below. Use a known σ = 3.9 minutes. Is the premium rate justified?
Hypothesis Test about a Population Mean: | Formulas | ||
Sigma Known Case | |||
Sample Size | 15 | #N/A | |
Sample Mean | #N/A | ||
Hypothesized Mean Value | 15 | ||
Population Standard Deviation | 3.9 | ||
Level of Significance | 0.01 | ||
Standard Error | #N/A | ||
Critical Value | #N/A | ||
Test Statistic (z) | #N/A | ||
p-value (Lower Tail) | #N/A | ||
p-value (Upper Tail) | #N/A | ||
p-value (Two Tail) | #N/A | ||
Reject Null Hypothesis? | #N/A | ||
Data range | A:A |
1.Compute the value of the test statistic (to 2 decimals).
2.What is the p-value (to 4 decimals)?