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The Supervisor of an Automobile Sales and Service Industry Would

question 30

Essay

The supervisor of an automobile sales and service industry would like the variance of the number of automobiles serviced not to exceed five units-squared. He would recruit one more service executive if the variance exceeds this threshold. In a recent random sample of 14 services, he computed the sample standard deviation as 3.3. He believes that the automobile services are normally distributed.
A) State the null and the alternative hypotheses to test if the threshold has been crossed.
B) Use the critical value approach to conduct the test at α = 0.01.
C) What should the supervisor do?

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Definitions:

Federal Debt

is the total amount of money that the government of the United States owes to creditors both domestic and foreign.

Government Budget Deficits

The situation where a government's expenditures exceed its revenues, leading to borrowing and increased debt.

Fiscal Policy

Adjustments made by the government in its budgeting and taxation to oversee and steer the economic health of a nation.

Taxes

Obligatory fiscal charges or various forms of dues levied on a taxpayer by government agencies with the aim of covering government expenses and assorted public financial needs.