Question

In: Math

A quality standard says that no more than 2 percent of the eggs sold in a...

A quality standard says that no more than 2 percent of the eggs sold in a store may be cracked (not broken, just cracked). In 3 cartons (12 eggs each carton), 2 eggs are cracked.

(a)

Calculate a p-value for the observed sample result. Hint: Use Excel to calculate the binomial probability P(X ≥ 2 | n = 36, ππ = .02) = 1 – P(X ≤ 1 | n = 36, ππ = .02). (Round your answer to 4 decimal places.)

P(X ≥ 2)

(b)

We fail to reject the null hypothesis at α = 0.10.

	No
	Yes

(c)

This sample shows that the standard is exceeded.

	Yes
	No

Expert Solution

The Binomial Cumulative Probability has been calculated by going through the following steps:

Formulas>More Functions>Statistical>BINOM.DIST

Then, in the dialog box the opens up, we put:

Number_s=2

Trials=36

Probability_s=0.02

Cumulative=TRUE

This will give you the required probability. One can go through the help section to know what these terms mean.

Please rate my solution if you find it useful.

Thank you.

milcah answered 1 year ago

According to the 68-95-99.7 rule what percent of the population are more than 2 standard deviation...

According to the 68-95-99.7 rule what percent of the population are more than 2 standard deviation away from the mean?

Suppose the government passes a law which says that milk cannot be sold for less than...

Suppose the government passes a law which says that milk cannot be sold for less than $5 per gallon. What do we call this type of policy? Draw two diagrams, one which shows the market for milk with this policy and one that shows the market without the policy. Who is hurt by this policy? Who benefits from this policy? Explain. Is this policy efficient? Explain

4- Frank sold two lots for $62,000. If one lot sold for $48,000 more than the...

4- Frank sold two lots for $62,000. If one lot sold for $48,000 more than the other what was the price of each lot? Label with $ and round to the nearest dollar. Remember, all numbers > 999 must use comma(s). Lot 1 Lot 2 5- Peggy paid her $85.00 electric bill with fives and tens. If there were 12 bills, how many were there of each denomination? five dollar bills ten dollar bills 6- Tickets for a football game...

There are more than 168,000 interstate motor carriers with more than 2 million trucks in the...

There are more than 168,000 interstate motor carriers with more than 2 million trucks in the U.S., according to the American Trucking Associations, an industry group. Does the large number of carriers necessarily indicate that the industry is perfectly competitive

When treasury stock is sold for more than the par value and the cost of the...

When treasury stock is sold for more than the par value and the cost of the stock, what account(s) should be credited? Select one: a. Treasury Stock for the cost and additional paid-in capital for the excess of the sale price over the cost b. Additional paid-in capital for the sale price c. Treasury Stock for the sale price d. Common Stock for the par value and retained earnings for the excess of the sale price over the par value...

A Realtor claims that no more than half of the homes he sells are sold for...

A Realtor claims that no more than half of the homes he sells are sold for less than the asking price. When reviewing a random sample of 16 sales over the past year, he found that actually 13 were sold below the asking price. (a) The assumption of normality is justified. Yes No (b-1) Calculate a p-value for the observed sample outcome, using the normal distribution. (Round your z-value to 2 decimal places. Round your answer to 4 decimal places.)...

A) C&A sells two kinds of eggs: brown and white. Brown eggs are 5% more expensive...

A) C&A sells two kinds of eggs: brown and white. Brown eggs are 5% more expensive than white. Which of the following is the most appropriate way to measure how many eggs C&A has in inventory? In dollars In dozens In inches In ounces B)Inventory turns and days-of-supply measure _______ items remain in __________. how long, inventory how valuable, inventory how long, sales how valuable, sales C)Higher days of supply means _________ inventory. Higher turns means ______ inventory. more, more...

1. The empirical rule says that 95% of the population is within 2 standard deviations of...

1. The empirical rule says that 95% of the population is within 2 standard deviations of the mean, but when I find the z-scores that mark off the middle 95% of the standard normal distribution I calculate -1.96 and 1.96. Is this a contradiction? Why or why not? In other words why are the normal distribution calculators not agreeing with the empirical rule? [2 sentences] 2. Answer the following: What is a sampling distribution? [2 sentences] What is the Central...

If an asset is sold (market value) for more or less than its book value that...

If an asset is sold (market value) for more or less than its book value that used for tax purposes, and adjustment must be made to the taxable income during the year. How this difference in market value and book value affect the taxable income?

Someone gets more than 8 hours of sleep 50 percent of the time, less than 3...

Someone gets more than 8 hours of sleep 50 percent of the time, less than 3 hours 30 percent of the time, and 3-8 hours (inclusive) 20 percent of the time. when they sleep more than 8 hours, forty percent of the time they score really well. when they get less than 3 hours, 20 percent of the time they score really well. when they get 3-8 hours inclusive they score really well 40 percent of the time. what is...