Assume That a Simple Random Sample Has Been Selected from a Normally

question 40

Essay

Assume that a simple random sample has been selected from a normally distributed population and test the given claim. Use either the traditional method or P-value method as indicated.
Identify the null and alternative hypotheses, test statistic, critical value(s)or P-value (or range of P-values)as appropriate, and state the final conclusion that addresses the original claim. A light-bulb manufacturer advertises that the average life for its light bulbs is 900 hours.
A random sample of 15 of its light bulbs resulted in the following lives in hours. $$\begin{array} { l l l l l l l l } 995 & 590 & 510 & 539 & 739 & 917 & 571 & 555 \\916 & 728 & 664 & 693 & 708 & 887 & 849 &\end{array}$$ At the 10% significance level, test the claim that the sample is from a population with a mean life of 900 hours. Use the P-value method of testing hypotheses.

---

Definitions:

Breakeven Point

The point at which total costs and total revenue are equal, meaning a business is neither making a loss nor a profit.

Revenues

The total amount of income generated by the sale of goods or services related to the company's primary operations.

Expenses

Costs incurred in the process of earning revenue; typically classified as fixed, variable, or periodic expenditures.

Breakeven Point

The point at which total cost and total revenue are equal, resulting in no net loss or gain for a business or project.