Identify the Null Hypothesis, Alternative Hypothesis, Test Statistic, P-Value, Conclusion

question 81

Essay

Identify the null hypothesis, alternative hypothesis, test statistic, P-value, conclusion about the null hypothesis, and final conclusion that addresses the original claim.
-A manufacturer considers his production process to be out of control when defects exceed 3%. In a random sample of 85 items, the defect rate is 5.9% but the manager claims that this is only a sample fluctuation and production is not really out of control. At the 0.01 level of significance, test the manager's claim.

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Definitions:

Statement Of Cash Flows

A financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company, showing how well it manages its cash position.

Cash Balance

The amount of cash held in a company's bank account and on hand at any given time.

Dividends Declared

Profits distributed by a company to its shareholders out of its earnings, based on the number of shares owned.