# Question

During a recent year the average cost of making a movie was $54.8 million. This year, a random sample of 15 recent action movies had an average production cost of $62.3 million with a variance of $90.25 million. At the 0.05 level of significance, can it be concluded that it costs more than average to produce an action movie?

Perform each of the following steps.

a. State the hypotheses and identify the claim.

b. Find the critical value(s).

c. Find the test value.

d. Make the decision.

e. Summarize the results.

Use the traditional method of hypothesis testing unless otherwise specified.

Assume that the population is approximately normally distributed.

Perform each of the following steps.

a. State the hypotheses and identify the claim.

b. Find the critical value(s).

c. Find the test value.

d. Make the decision.

e. Summarize the results.

Use the traditional method of hypothesis testing unless otherwise specified.

Assume that the population is approximately normally distributed.

## Answer to relevant Questions

The average 1-ounce chocolate chip cookie contains 110 calories. A random sample of 15 different brands of 1-ounce chocolate chip cookies resulted in the following calorie amounts. At the α = 0.01 level, is there sufficient ...A random sample of stipends of teaching assistants in economics is listed. Is there sufficient evidence at the α = 0.05 level to conclude that the average stipend differs from $15,000? The stipends listed (in dollars) are ...A survey of 15 large U.S. cities finds that the average commute time one way is 25.4 minutes. A chamber of commerce executive feels that the commute in his city is less and wants to publicize this. He randomly selects 25 ...According to Nielsen Media Research, of all the U.S. households that owned at least one television set, 83% had two or more sets. A local cable company canvassing the town to promote a new cable service found that of the 300 ...It has been found that 50.3% of U.S. households own stocks and mutual funds. A random sample of 300 heads of households indicated that 171 owned some type of stock. At what level of significance would you conclude that this ...Post your question

0