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The mean length of a candy bar is 43 millimeters. There is concern that the settings of the machine cutting 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 in millimeters recorded. The lengths (in millimeters) are 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 is 1.784. If the computed t = −2.913,has there been a statistically significant change in the mean length of the bars?
Interest Rate
The fraction of a loan that incurs interest charges for the borrower, usually indicated as an annual percentage of the remaining loan amount.
Cell A
In the context of matrices or spreadsheets, it typically refers to the top-left cell or the first cell in a table.
Compounded Annually
A method of calculating interest where the interest earned over a period is added to the principal, and the total becomes the basis for calculating interest in the next period, occurring once per year.
Positively Correlated
A relationship between two variables where both either increase or decrease together.
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