Question

In: Statistics and Probability

The target value for a watch is to lose no time over a year. A sample...

The target value for a watch is to lose no time over a year. A sample of 4 watches had the following time gained (lost) in minutes: (-1, -2, 3, -3). Assume k = $4. Calculate the following:

Round your answers to two decimal places.

Average squared deviation:

Average loss per watch:

Total expected loss for 8,000 watches produced and sold: $

Solutions

Expert Solution


Related Solutions

Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. −0.30 −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...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Click here for the Excel Data File −0.43 −0.22 −0.42 −0.37 +0.27 −0.23 +0.32 +0.54 −0.19 −0.29 −0.34 −0.55 −0.44 −0.56 −0.05 −0.19 −0.24 +0.08 State the null hypothesis and the alternate hypothesis. State the decision rule for 0.01 significance level. (Negative amounts should...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Picture Click here for the Excel Data File −0.16 −0.15 −0.20 −0.17 +0.26 −0.19 +0.30 +0.43 −0.10 −0.31 −0.48 −0.44 −0.51 −0.67 −0.05 −0.24 −0.51 +0.05 A. State the null hypothesis and the alternate hypothesis. H0= (mean symbol) = H1= (mean symbol) = B....
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Picture Click here for the Excel Data File –0.42 –0.17 –0.11 –0.28 +0.33 –0.25 +0.34 +0.25 –0.08 –0.32 –0.54 –0.44 –0.45 –0.64 –0.04 –0.26 –0.44 +0.09 a-1. Is it reasonable to conclude that the mean gain or loss in time for the watches is...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Picture Click here for the Excel Data File −0.16 −0.15 −0.20 −0.17 +0.26 −0.19 +0.30 +0.43 −0.10 −0.31 −0.48 −0.44 −0.51 −0.67 −0.05 −0.24 −0.51 +0.05 State the null hypothesis and the alternate hypothesis. State the decision rule for 0.05 significance level. (Negative amounts...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. −0.16 −0.15 −0.20 −0.17 +0.26 −0.19 +0.30 +0.43 −0.10 −0.31 −0.48 −0.44 −0.51 −0.67 −0.05 −0.24 −0.51 +0.05 State the null hypothesis and the alternate hypothesis State the decision rule for 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Click here for the Excel Data File −0.16 −0.15 −0.20 −0.17 +0.26 −0.19 +0.30 +0.43 −0.10 −0.31 −0.48 −0.44 −0.51 −0.67 −0.05 −0.24 −0.51 +0.05 State the null hypothesis and the alternate hypothesis State the decision rule for 0.05 significance level. (Negative amounts should...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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:          −0.45 −0.19 −0.16 −0.20 +0.28 −0.24 +0.46 +0.26 −0.14 −0.37 −0.32 −0.50 −0.51 −0.62 −0.04 −0.19 −0.56 +0.04 State the null hypothesis and the alternate hypothesis. H0: ?= H1: ?= State the decision rule for 0.05 significance level. (Negative amounts should be indicated by...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Data File −0.29 −0.17 −0.41 −0.37 0.34 −0.23 0.3 0.23 −0.12 −0.33 −0.49 −0.50 −0.51 −0.64 −0.07 −0.23 −0.77 0.05 a)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...
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...
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. Excel Data File watches -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 –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 a-1. Is it reasonable...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT