Week 5 Individual Assignment Essay Example | Topics and Well Written Essays - 2000 words

Week 5 Individual Assignment - Essay Example is one-tailed (Left tailed) and we want to determine whether there has been a reduction in the weight of individuals who joined Weight Reducers International. Since the z-test statistic is less than -1.645 therefore at the 5% significance level, we have sufficient evidence to conclude that those who will join Weight Reducers International on average will lose less than 10 pounds. Dole Pineapple, Inc., is concerned that the 16-ounce can of sliced pineapple is being overfilled. Assume the standard deviation of the process is .03 ounces. The quality control department took a random sample of 50 cans and found that the arithmetic mean weight was 16.05 ounces. At the 5 percent level of significance, can we conclude that the mean weight is greater than 16 ounces? Determine the p-value. We will reject the null hypothesis if the z-test statistic is greater than 1.645 (z > 1.645) since the test is one-tailed (Right tailed) and we want to determine whether 16-ounce can of sliced pineapple is being overfilled. A recent article in The Wall Street Journal reported that the 30-year mortgage rate is now less than 6 percent. A sample of eight small banks in the Midwest revealed the following 30-year rates (in percent): We will reject the null hypothesis if t-test statistic is less than -2.998 since the test is one-tailed (left tailed) and we want to determine whether the 30-year mortgage rate is now less than 6 percent Since the t-test statistic is greater than -2.998 therefore we will not reject the null hypothesis. At 1% significance level we have sufficient evidence to conclude that the 30-year mortgage rate is not less than 6 percent. The minimum significance level (p-value) at which the null hypothesis can be rejected is between 5% and 10% since the value -1.61 lies in between -1.415 and -1.895 for a t-distribution with degrees of freedom = 7 The null hypothesis is that there is no difference in the population mean number of times men and women buy take-out dinner in