A Sample of 30 Cookies Is Taken to Test the Claim

question 28

Essay

A sample of 30 cookies is taken to test the claim that each cookie contains at least 9 chocolate chips.The average number of chocolate chips per cookie in the sample was 7.8 with a standard deviation of 3.
a.
State the null and alternative hypotheses.
b.
Using the critical value approach, test the hypotheses at the 5% level of significance.
c.
Using the p-value approach, test the hypotheses at the 5% level of significance.
d.
Compute the probability of a Type II error if the true number of chocolate chips per cookie is 8.

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Definitions:

David Ricardo

A British economist known for his contributions to classical economics, especially his theory of comparative advantage in trade.

Supply and Demand

Fundamental economic concepts describing the relationship between the availability of products and the desires of consumers, dictating the price of goods and services.

Compound Interest

Interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.

Truth in Lending Act

A U.S. federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and costs.