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 distribution of the population is normally distributed.
a.State the null and alternative hypotheses.
b.Using a critical value, test the hypothesis at the 10% level of significance.
c.Using a p-value, test the hypothesis at the 10% level of significance.
d.Using a confidence interval, test the hypothesis at the 10% level of significance.
e.Could a Type II error have been committed in this hypothesis test?
Definitions:
Marginal Product
The additional output generated by employing one more unit of a particular input, keeping other inputs constant.
Number of Workers
The total count of individuals employed within a firm, an industry, or the economy to perform various tasks and services.
Labor
It refers to the effort, skills, or work performed by workers for wages.
Maximum Total Output
The highest quantity of production that a company can achieve with its current resources and technology.
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