SCENARIO 9-4 A Drug Company Is Considering Marketing a New Local Anesthetic.The

question 54

Short Answer

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,the p-value of the test is .

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Definitions:

Process Cost System

An accounting method used to apply costs to similar products that are mass-produced in a continuous fashion.

Natural Gas Refinery

A facility that processes natural gas to remove impurities and possibly extract valuable hydrocarbons and fluids.

Process Cost System

An accounting method used to track production costs for large quantities of identical items by accumulating costs across processes or departments.

Work In Process

Work in process are goods in various stages of production within a factory, not yet completed to become finished goods.