A Hypothesis Test Is to Be Performed $8.4$ Minutes the Manager Has Installed a New Computer System and and Alternative

question 161

Multiple Choice

A hypothesis test is to be performed. State the null and alternative hypotheses.
-Last month the mean waiting time at a bank was $8.4$ minutes. The manager has installed a new computer system and claims that people will no longer have to wait as long.

• A) Null hypothesis: mean waiting time \(= 8.4\) minutes
• Alternative hypothesis: mean waiting time \(\leq 8.4\) minutes
• B) Null hypothesis: mean waiting time \(> 8.4\) minutes
• Alternative hypothesis: mean waiting time \(< 8.4\) minutes
• C) Null hypothesis: mean waiting time \(< 8.4\) minutes
• Alternative hypothesis: mean waiting time \(= 8.4\) minutes
• D) Null hypothesis: mean waiting time \(= 8.4\) minutes
• Alternative hypothesis: mean waiting time \(< 8.4\) minutes

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Definitions:

Custom Jewelry

Jewelry pieces that are specially designed and crafted according to the specifications provided by a customer.

Weighted-Average Method

This inventory costing method assigns the average cost of goods available for sale during the period to both ending inventory and cost of goods sold.

Equivalent Unit

A calculation used in cost accounting that converts partially completed goods into a number of complete units of output, helping in the costing process of production.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all units available during the period.