In: Statistics and Probability
The Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time during a week. A sample of 18 watches provided the following gains (+) or losses (-) in seconds per week.
-0.14 | -0.64 | -0.86 | -0.85 | 0.16 | -0.34 | 0.23 | 0.35 | -0.33 |
-0.17 | -0.89 | -0.73 | -0.36 | -0.13 | -0.27 | -0.72 | -0.20 | 0.36 |
H0: μ = 0
H1: μ ≠ 0
Is it reasonable to conclude that the mean gain or loss in time for the watches is 0? Use the 0.05 significance level.
a. At a level of 0.05 significance, we reject H0: μ = 0. (Negative answer should be indicated by a minus sign. Round the final answers to 3 decimal places.)
If t < or t > , reject H0.
b. What is the value of the test statistic? (Round the final answer to 3 decimal places.)
Value of the test statistic =
c. What is your decision regarding H0?
(Click to select) Reject Do not reject H0: μ = 0.
d. What is the p-value?
The p-value is (Click to select) 0.001 and 0.01 0.010 and 0.02 .