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SCENARIO 9-4
A drug company is considering marketing a new local anesthetic.The effective time of the anesthetic the drug company is currently producing has a normal distribution with an mean of
7.4 minutes with a standard deviation of 1.2 minutes.The chemistry of the new anesthetic is such that the effective time should be normally distributed with the same standard deviation,but the mean effective time may be lower.If it is lower,the drug company will market the new anesthetic;otherwise,they will continue to produce the older one.A sample of size 36 results in a sample mean of 7.1.A hypothesis test will be done to help make the decision.
-Referring to Scenario 9-4,for a test with a level of significance of 0.10,the critical value would be .
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A significant reduction in the price of goods or securities, often used to stimulate sales or to clear out inventory.
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Referring to a period extending over an extensive time, often exceeding one year, especially in contexts like investments or financial planning.
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Bonds that do not pay interest during their life but are sold at a discount from their face value, where the difference between the purchase price and the face value represents the investor's return.
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