Employees in a Large Company Are Entitled to 15-Minute Water

question 11

Essay

Employees in a large company are entitled to 15-minute water breaks.A random sample of the duration of water breaks for 10 employees was taken with the times shown as: 12,16,14,18,21,17,19,15,18,and 16.Assuming that the times are normally distributed,is there enough evidence at the 5% significance level to indicate that on average employees are taking longer water breaks than they are entitled to?

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Definitions:

Total Utility

The complete contentment derived from the consumption of a specific amount of a product or service.

Fair Bet

A gamble where the expected value of the potential outcomes is equal, implying that there is no net advantage or disadvantage to participating.

Zero Sum Game

A situation in game theory in which one participant's gains result exactly from losses incurred by other participants.

Expected Value

A calculated average of all possible values in a given probability distribution, weighted by the likelihood of each outcome.