TABLE 9-3 An Appliance Manufacturer Claims to Have Developed a Compact Microwave

question 12

Essay

TABLE 9-3
An appliance manufacturer claims to have developed a compact microwave oven that consumes a mean of no more than 250 W. From previous studies, it is believed that power consumption for microwave ovens is normally distributed with a population standard deviation of 15 W. A consumer group has decided to try to discover if the claim appears true. They take a sample of 20 microwave ovens and find that they consume a mean of 257.3 W.
-Referring to Table 9-3, the p-value of the test is ________.

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Definitions:

Stock Dividend

A distribution of additional shares of a company's stock to its shareholders instead of cash.

Market Price

Market price is the current price at which an asset or service can be bought or sold in the open market.

Total Assets

The sum of all current and non-current assets owned by a business, reflecting the company's overall financial strength on the balance sheet.

Liabilities

Financial obligations or debts that a company owes to others, due to past transactions or events.