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Billy Wants to Test Whether the Average Speed of His

question 104

Essay

Billy wants to test whether the average speed of his favorite pitcher's fastball differs from the league average of 92 miles per hour. He takes a sample of 36 of the pitcher's fastballs and computes a sample mean of 94 miles per hour. Assume that the standard deviation of the population is 4 miles per hour.
A) Specify the null and alternative hypotheses to test Billy's claim.
B) Calculate the value of the test statistic and the p-value.
C) At the 5% significance level, can you conclude that Billy's favorite pitcher's fastball differs in speed from the league average?
D) At the 1% significance level, can you conclude that Billy's favorite pitcher's fastball differs in speed from the league average?

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Definitions:

Fixed Manufacturing Overhead

Costs in manufacturing that do not vary with the level of production, such as rent, depreciation, and salaries.

Inventories

Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials to be consumed in the production process.

Deferred

Refers to expenses or income that has been incurred but not yet recognized in the accounts, to be recognized in a future period.

Released

Refers to a product or information that has been made available to the public or to a specific group.