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

question 5

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. $$\begin{array}{l}\text { A random sample of } 15 \text { of its light bulbs resulted in the following lives in hours. }\\\begin{array} { l l l l l l l l } 995 & 590 & 510 & 539 & 739 & 917 & 571 & 555 \\916 & 728 & 664 & 693 & 708 & 887 & 849 & \\\hline\end{array}\end{array}$$ 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.

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Definitions:

Patents

Legal rights granted to inventors, allowing them exclusive use and exploitation of their inventions for a certain period.

Unrealized Intercompany Profits

Profits arising from transactions between entities within the same group that have not yet been realized by selling the goods or services to an external party.

Cumulative Dividends

Dividends on preferred shares that accumulate and must be paid out before any dividends can be distributed to common shareholders.

Consolidated Cost

The total cost that combines figures from various subsidiaries of a parent company into one aggregated total.