In: Statistics and Probability
A company wants to determine if the median shelf life for their product is different from the median shelf life of their main competitor’s product. Their main competitor’s product has a median shelf life of 10 days. Since the product is very expensive, the company only wants to devote a small number of units to the associated test. They test 7 units of product and find the following results.
Unit |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
Shelf Life (days) |
8 |
9 |
8 |
11 |
13 |
12 |
14 |
a) What type of hypothesis test should you conduct in this case?
b) Conduct your chosen hypothesis test using the p-value method. Show all 5 steps. When you calculate your test statistic: show the equation you use, how you plug in, and your final answer. When you calculate your p-value: show how you calculate each individual probability, and round each individual probability to 4 decimal places.