A Random Sample of 8 Observations from an Approximately Normal $$\begin{array} { l l l l l l l l } 5 & 6 & 4 & 5 & 8 & 6 & 5 & 3\end{array}$$

question 96

Essay

A random sample of 8 observations from an approximately normal distribution is shown below.
$$\begin{array} { l l l l l l l l } 5 & 6 & 4 & 5 & 8 & 6 & 5 & 3\end{array}$$
Find the observed level of significance for the test of $H _ { 0 } : \mu = 5$ against $H _ { \mathrm { a } } : \mu \neq 5$ . Interpret the result.

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Definitions:

Make-to-stock

A production strategy where items are manufactured for stock based on demand forecasts, rather than made to order.

Production Process

A cross-functional business process in which a company produces physical goods.

Pull Model

A business model in which the production process begins with a customer order and companies make only what customers want, a process closely aligned with mass customization.

Make-to-order

A manufacturing process in which the production of an item begins only after a confirmed customer order is received.