Find the Critical Value or Values Of $\chi ^ { 2 }$

question 22

Essay

Find the critical value or values of $\chi ^ { 2 }$ based on the given information.
-A manufacturer uses a new production method to produce steel rods. A random sample of 17 steel rods
resulted in lengths with a standard deviation of 4.7 cm. At the 0.10 significance level, test the claim that the new
production method has lengths with a standard deviation different from 3.5 cm, which was the standard
deviation for the old method.

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Definitions:

Investment

The allocation of resources, such as capital, time, or assets, with the expectation of receiving future benefits or returns.

Useful Life

The estimated duration of time an asset is expected to be useful for the business before it becomes obsolete or too costly to maintain.

Operating Cost

Expenses associated directly with the day-to-day running of a business, including costs for materials, labor, and utilities.

Value-Based Pricing

A pricing strategy where the price of a product or service is determined by the perceived value it brings to the customer rather than its cost of production or market competition.