Preliminary Data Analyses Indicate That It Is Reasonable to Use $\bar { x }$

question 30

Essay

Preliminary data analyses indicate that it is reasonable to use a t-test to carry out the specified hypothesis test. Performthe t-test using the critical-value approach.
-In one state, the mean time served in prison by convicted burglars is 18.7 months. A researcher would like to perform a hypothesis test to determine whether the mean amount of time served by convicted burglars in her hometown is different from 18.7 months. She takes a random sample of 11 such cases from court files in her home town and finds that $\bar { x }$ = 21 months and s = 7 months. Use a 5% significance level to perform the test.

Understand the characteristics of monopolistic competition and how it differs from perfect competition and monopoly.

Identify and analyze the profit-maximizing behavior of firms in monopolistically competitive markets in the short run and long run.

Understand and calculate profit, total revenue, and total cost for firms within monopolistically competitive markets.

Recognize the role of advertising and product differentiation in monopolistic competition.

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Definitions:

Endoplasmic Reticulum

An organelle in eukaryotic cells comprising a network of membranous tubules and sacs, involved in protein and lipid synthesis.

Lactose

A type of sugar found in milk and dairy products, composed of glucose and galactose units.

E. Coli

Escherichia coli, a rod-shaped bacterium that is commonly found in the intestines of warm-blooded organisms and can be either harmless or pathogenic.

Lac Repressor

A protein that binds to the lac operon and inhibits the metabolism of lactose in bacteria.