Nancy believes that the average running time of movies is equal to 140 minutes. A sample of 4 movies was taken and the following running times were obtained. Assume the population of the running times is normally distributed. 
a.Compute the sample mean and the standard deviation.
b.State the null and alternative hypotheses.
c.Using the critical value approach, test the hypotheses at the 10% level of significance.
d.Using the p-value approach, test the hypotheses at the 10% level of significance.
Definitions:
Market Price
The current price at which an asset or service can be bought or sold in the marketplace.
Call Premium
The additional amount above the bond's face value that the issuer must pay to redeem it before maturity.
Unexpectedly Announces
Refers to unforeseen news or disclosures by a company that can significantly impact its stock price and investor perceptions.
Dividend
A dividend is a payment made by a corporation to its shareholders, usually in the form of cash or stock, from its profits or reserves.
Q25: Refer to Exhibit 10-7. A point estimate
Q28: If a data set has SSR =
Q30: In regression analysis, the independent variable is<br>A)used
Q32: A sample of 51 observations will be
Q33: Refer to Exhibit 11-1. The calculated value
Q69: The following random sample from a
Q84: When constructing a confidence interval for the
Q135: Regression analysis was applied between sales (in
Q165: Refer to Exhibit 10-3. The standard error
Q173: For a one-tailed test (lower tail) at