A commercial farmer harvests his entire field of a vegetable crop at one time. Therefore, he would

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A commercial farmer harvests his entire field of a vegetable crop at one time. Therefore, he would like to plant a variety of green beans that mature all at one time (small standard deviation between maturity times of individual plants). A seed company has developed a new hybrid strain of green beans that it believes to be better for the commercial farmer. The maturity time of the standard variety has an average of 50 days and a standard deviation of 2.1 days. A random sample of 30 plants of the new hybrid showed a standard deviation of 1.65 days. Does this sample show a significant lowering of the standard deviation at the 0.05 level of significance? Assume that maturity time is normally distributed.
a. Solve using the p-value approach.
b. Solve using the classical approach.
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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Elementary Statistics

ISBN: 9780538733502

11th Edition

Authors: Robert R. Johnson, Patricia J. Kuby

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