The Next Questions Are Based on the Following Information

question 73

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.
-Explain carefully the distinction between null and alternative hypotheses.

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Definitions:

Automobile Manufacturing

The industry involved in the design, development, production, marketing, and selling of motor vehicles.

Sensitivity Analysis

A procedure for examining the repercussions that different magnitudes of an independent variable have on a dependent variable, within the context of predetermined assumptions.

Cash Break-Even

The amount of revenue necessary to cover all cash operating expenses, ignoring non-cash costs.

Fixed Costs

Expenses that do not change with changes in the volume of production or sales, such as rent, salaries, and insurance.