You are willing to take a 5% alpha risk. What is the value…
You are willing to take a 5% alpha risk. What is the value of Z critical? You have a process and you know from extensive past experience that the population average is 21 and the population standard deviation is 1.48. You are testing a potential substitute from a potential supplier that is offering a lower price. You are interested in the change assuming the quality is equal to or greater than your current suppliers material. If the average is statistically significantly higher than the population average of 21 then you will accept the new supplier with their material. You collected 5 parts from your process and found the average to be 23.
Read DetailsDoes the question below suggest a one tailed or a two tailed…
Does the question below suggest a one tailed or a two tailed test? You have a process and you know from extensive past experience that the population average is 21 and the population standard deviation is 1.48. You are testing a potential substitute from a potential supplier that is offering a lower price. You are interested in the change assuming the quality is equal to or greater than your current suppliers material. If the average is statistically significantly higher than the population average of 21 then you will accept the new supplier with their material. You collected 5 parts from your process and found the average to be 23. What is the value of Z calculated? This same question will be used for questions 1-4.
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