Question

In: Statistics and Probability

You run your printer 1000 times and find that your 3D printer fails 1 every 50...

You run your printer 1000 times and find that your 3D printer fails 1 every 50 prints. The manufacturer claims that the printer will only fail 1% of the time.

a Create a confidence interval for the failure rate of your printer.

b Is the failure rate of your printer different than that of the manufactures? Make sure to include the null and alternative hypothesis, z score, p value and interpretation of the results.

c Is the failure rate of your printer greater than that of the manufactures? Make sure to include the null and alternative hypothesis, z score, p value and interpretation of the results.

Solutions

Expert Solution

Solution-A:

p^=x/n=50/1000=0.05

z crit for 95%=1.96

95% confidence interval  for the failure rate of your printer.

p^-z*sqrt(p^*(1-p^)/n),p^+z*sqrt(p^*(1-p^)/n)

0.05-1.96*sqrt(0.05*(1-0.05/1000),0.05+1.96*sqrt(0.05*(1-0.05/1000)

0.03649163, 0.06350837

3.649163,6.350837

Solution-b:

Ho:p=0.01

Ha:p not =0.01

alpha=0.05

z=p^-p/sqrt(p*(1-p)/n)

=(0.05-0.01)/sqrt(0.01*(1-0.01)/1000)

z=12.71283

test statistic,z=12.71283

p value in excel

=2*(=NORM.S.DIST(-12.71283,TRUE))

=5.01848E-37

P=0.000

p<0.05

Reject Ho

Accept Ha

Conclusion:There is sufficient statistical evidence at 5% level of significance to support the claim that

failure rate of your printer different than that of the manufactures

Solution-c:

Ho:p=0.01

Ha:p>0.01

alpha=0.05

z=p^-p/sqrt(p*(1-p)/n)

=(0.05-0.01)/sqrt(0.01*(1-0.01)/1000)

z=12.71283

p value right tail

==NORM.S.DIST(-12.71283,TRUE)

2.50924E-37

p=0.0000

p<0.05

Reject Ho
Accept Ha

Conclusion:

There is sufficient statistical evidence at 5% level of significance to conclude that failure rate of your printer greater than that of the manufactures


Related Solutions

Your company is investing in a 3D printer for $10,000 that you will use for 5...
Your company is investing in a 3D printer for $10,000 that you will use for 5 years. The annual expected revenue generated from sale of products made by this printer is $5,310 and annual expenses for the printer are $3,000. The expected salvage value at the end of 5 years is $2,000. Your company’s minimum attractive rate of return is 12%. Based on internal rate of return analysis, required by your company, is this investment economically acceptable? Why or why...
Your company wants to purchase a 3D printer at a cost of $15,000. It estimates it...
Your company wants to purchase a 3D printer at a cost of $15,000. It estimates it can generate cash inflow in the year following purchase of $12,000. In the next a cash outflow of $4,000 will occur because the printer will require expensive maintenance and a software update. In the printer’s final year of its useful life it will generate cash flow of a $10,000. The machine will then be scrapped. Is the purchase financially justifiable if the appropriate discount...
A coin is tossed 50 times. Find the probability that the tail appears. A) Exactly  30 times...
A coin is tossed 50 times. Find the probability that the tail appears. A) Exactly  30 times B at least 35 times. Using normal distribution
A coin is tossed 50 times. Find the probability that the tail appears. A) Exactly  30 times...
A coin is tossed 50 times. Find the probability that the tail appears. A) Exactly  30 times B at least 35 times. Using normal distribution
How do you make a soldenoid(coil) with 3D printer. I need detailed instructions so i can...
How do you make a soldenoid(coil) with 3D printer. I need detailed instructions so i can make it my self?
Assume that you have a printer that can print an average file in two minutes. Every...
Assume that you have a printer that can print an average file in two minutes. Every two and a half minutes a user sends another file to the printer. Assuming both inter-arrival and service time follow the exponential distribution, in steady state condition, (a) As an average, how long does it take before a user can get their output? (10 points) (b) To speed things up you can buy two similar printers that is exactly the same as the one...
A baseball hitter hits a home run about once every 10 times at bat. We are...
A baseball hitter hits a home run about once every 10 times at bat. We are interested in the number of hits before the first home run happens. In words, define the random variable X. List the values that X may take on. Give the distribution of X including parameters, if any. i.e., X ~ ________() How many times does he bat on the average before the first home run? Suppose we are interested in the number of hits before...
A baseball hitter hits a home run about once every 10 times at bat. We are...
A baseball hitter hits a home run about once every 10 times at bat. We are interested in the number of hits before the first home run happens. Give the distribution of X including parameters, if any. i.e., X ~ ________() How many times does he bat on the average before the first home run? Suppose we are interested in the number of hits before the third home run. Give the distribution of X including parameters, if any. i.e., X...
probability 10%. n= 50 find between 15 and 18 times.
probability 10%. n= 50 find between 15 and 18 times.
You run a plumbing company. You are experiencing a growth in your business, and find you...
You run a plumbing company. You are experiencing a growth in your business, and find you don't have enough trucks and plumbers to meet the demand. You are considering buying a new truck and then hiring an additional plumber to handle some of the work you have had to turn away.   Based on the assumptions below, prepare a Capital Budgeting Analysis using the template provided. Assume you will sell the truck at the end of year 3. Cost of the...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT