How Many Tissues Should a Package of Tissues Contain? Researchers $\bar { x }$

question 120

Short Answer

How many tissues should a package of tissues contain? Researchers have determined that a person uses an average of 62 tissues during a cold. Suppose a random sample of 100 people yielded the following data on the number of tissues used during a cold: $\bar { x }$ = 50, s = 16. Identify the null and alternative hypothesis for a test to determine if the mean number of tissues used during a cold is less than 62. A) $H _ { 0 } : \mu = 62$ vs. $H _ { a } : \mu < 62$
B) $H _ { 0 } : \mu = 62$ vs. $H _ { \mathrm { a } } : \mu > 62$
C) $H _ { 0 } : \mu = 62$ vs. $H _ { \mathrm { a } } : \mu \neq 62$
D) $H _ { 0 } : \mu > 62$ vs. $H _ { \mathrm { a } } : \mu \leq 62$

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Definitions:

Duopoly

A market structure where two companies dominate the market for a particular product or service.

Joint Profits

The combined earnings or profits generated by a partnership or collaboration between two or more entities or firms.

Non-collusive Oligopolist

A firm in an oligopoly market structure that independently sets prices or output levels without engaging in explicit agreements with rivals.

Equilibrium Price

The price at which the quantity of a good or service supplied equals the quantity demanded, resulting in no surplus or shortage in the market.