The Mean Length of a Small Counter Balance Bar Is

question 84

Multiple Choice

The mean length of a small counter balance bar is 43 millimeters. There is concern that the settings of the machine producing the bars have changed. Test the claim at the 0.02 level that there has been no change in the mean length. The alternate hypothesis is that there has been a change. Twelve bars (n = 12) were selected at random and their lengths recorded. The lengths are (in millimeters) 42, 39, 42, 45, 43, 40, 39, 41, 40, 42, 43 and 42. The mean of the sample is 41.5 and the standard deviation 1.784. Computed t = -2.913. Has there been a statistically significant change in the mean length of the bars?

• A) Yes, because the computed t lies in the rejection region.
• B) No, because the information given is not complete.
• C) No, because the computed t lies in the area to the right of -2.718.
• D) Yes, because 43 is greater than 41.5.

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Definitions:

Marginal Revenue

The additional income that is gained from selling one more unit of a product or service.

Consumer Surplus

The discrepancy between the total sum consumers are prepared and capable of paying for a good or service, and the total sum they end up paying.

Profit Maximize

The method through which a company identifies the optimal pricing and production volume to maximize its profits.

Output

Output is the total amount of goods or services produced by a company, sector, or economy within a certain period, indicating the level of productivity and capacity utilization.