A Popular Music Magazine Has Speculated That the Average Length

question 46

Essay

A popular music magazine has speculated that the average length of a song on one of today's popular CDs is 3.75 minutes with a standard deviation of 0.75 minutes.A randomly selected song of a particular new type of music is 5 minutes.Using the .05 level of significance,is this new type of music,represented by this one song,longer than popular songs in general?
a.Use the five steps of hypothesis testing.
b.Sketch the distributions involved.
c.Explain the logic of what you did to a person who is familiar with graphs of distributions,the mean,standard deviation,Z scores,the normal curve and normal curve tables,and the basics of probability,but knows nothing else about statistics.Be sure your explanation includes the overall logic of hypothesis testing including each of the five steps.

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Definitions:

Recognition Principle

An accounting concept dictating that revenue should be recognized in the income statement when it is realized or realizable and earned, not necessarily when cash is received.

Time Period Principle

An accounting principle stating that financial reporting should be done in regular intervals to ensure relevance and reliability.

Contra Account

An account used in an accounting system to offset a related account, commonly used to record depreciation, allowances, and discounts.

Normal Balance

The side of an account, either debit or credit, where increases to the account are recorded.