The Next Questions Are Based on the Following Information

question 163

Essay

The Next Questions Are Based On The Following Information:
Research and development has designed a ball point pen so that the true average writing lifetime under controlled conditions (involving the use of a writing machine)is at least 12 hours.A random sample of 18 pens is selected,the writing lifetime of each is determined,and a normal probability plot of the resulting data supports the use of a one-sample t test.
-What conclusion is appropriate for the hypotheses H₀ : μ = 12 against H₁ : μ < 12,,and the test statistic t = -2.5,and α = .05?

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Definitions:

Manufacturing Variances

Differences between the actual costs and standard (expected) costs incurred during production, which can be categorized into material, labor, and overhead variances.

Incremental Analysis

The process of identifying the financial data that changes under alternative courses of action, used for decision-making in business.

Financial Data

Numeric information related to the financial performance, position, and cash flows of a business.

Alternative Courses of Action

Different strategies or options considered by decision-makers to achieve a goal or solve a problem.