Toaster Oven An Appliance Manufacturer Claims to Have Developed a New Toaster

question 135

Short Answer

Toaster Oven
An appliance manufacturer claims to have developed a new toaster oven that consumes an average of no more than 250 W.From previous studies,it is believed that power consumption for toaster ovens is normally distributed with a standard deviation of 18 W.A consumer group suspects the actual average is more than 250 W.They take a sample of 20 toaster ovens and calculate the average consumption to be 260 W. ​ ​
-{Toaster Oven Narrative} Calculate the p-value of the test.

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Definitions:

Gross Margin Ratio

A financial metric that measures the percentage of revenue that exceeds the cost of goods sold, indicating the profitability of a company's core activities.