Most automobile repair shops now charge according to a schedule that is claimed to be based on
Question:
Most automobile repair shops now charge according to a schedule that is claimed to be based on average times. This means that instead of determining the actual time to make a repair and multiplying this value by their hourly rate, repair shops determine the cost from a schedule that is calculated from average times. A critic of this policy is examining how closely this schedule adheres to the actual time to complete a job. He randomly selects five jobs.
According to the schedule, these jobs should take 45 minutes, 60 minutes, 80 minutes, 100 minutes, and 125 minutes, respectively. The critic then takes a random sample of repair shops and records the actual times for each of 20 cars for each job. For each job, can we infer that the time specified by the schedule is greater than the actual time?
Step by Step Answer:
Overall Conclusion pvalues are 0004 1399 0 0013 and 0005 respectively In ...View the full answer
Statistics For Management And Economics Abbreviated
ISBN: 9781285869643
10th Edition
Authors: Gerald Keller
Students also viewed these Statistics questions
-
he times required to complete each of five jobs in a two-machine flow strop are shown in the following table. Each job must follow the same sequence, begin with machine A and end with machine B. a....
-
Automobile repair shops typically remind customers to change their oil and oil filter every 3,000 miles. Let's call this Strategy 1. Usually you can save money by following another legitimate...
-
Can we infer that the average American works more than 40 hours per week (HRS1)?
-
For the planning process, it is helpful to have employee census information for Question 3 options: a) at least the last five years and projections for the future. b) all current employees younger...
-
A 100 m3 storage tank with fuel gases is at 20C, 100 kPa containing a mixture of acetylene C2H2, propane C3H8 and butane C4H10. A test shows the partial pressure of the C2H2 is 15 kPa and that of...
-
For those seventh graders with cell phones, the number of programmed numbers in their phones are: a. Find the mean number of programmed numbers on a seventh graders cell phone. b. Find the median...
-
Discuss why it is important to report significant changes in a patients condition to the treating physician.
-
Garden Grove Corporation made a sale to a foreign customer on September 15, Year 1, for 100,000 foreign currency units (FCU). Payment was received on October 15, Year 1. The following exchange rates...
-
Consider a simple loan. Draw up a table that shows the present value (PV) given the following variables. Show all your calculations. < Present Value (PV) Cash Flow (CF) Interest Rate (i) Term (n)...
-
Cinder Inc. is a Canadian-controlled private corporation based in your province. The company operates a wholesale business. The following information is provided for its year ended May 31, 2020: 1....
-
Discrimination in hiring has been illegal for many years. It is illegal to discriminate against any person on the basis of race, gender, or religion. It is also illegal to discriminate because of a...
-
Automobile insurance appraisers examine cars that have been involved in accidental collisions and estimate the cost of repairs. An insurance executive claims that there are significant differences in...
-
With reference to the data in Table 6.10, occasionally, caving to the coal ?rider? seam just below the limestone stratum happens at intersections of the 20 ft wide entries and crosscuts. Specify a...
-
Cuevas Co. is in the process of developing a revolutionary new product. A new division of the company was formed to develop, manufacture, and market this new product. As of year-end (December 31,...
-
Villa Company has experienced tough competition, leading it to seek concessions from its employees in the companys pension plan. In exchange for promises to avoid layoffs and wage cuts, the employees...
-
On January 1, 2013, a machine was purchased for \($90\),000. The machine has an estimated residual value of \($6\),000 and an estimated useful life of 5 years. The machine can operate for 100,000...
-
On June 30, 2015, your client, Ferry Company, was granted two patents covering plastic cartons that it had been producing and marketing profitably for the past 3 years. One patent covers the...
-
Pick a social media website and evaluate the communication interactions that occur there. Does the interpersonal communication on the website foster open discussion, or are many people maligned for...
-
Explain the importance of, and main stages involved in, organisational human resource planning. What do you understand by a personnel management action programme?
-
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
-
A box sitting in a room occupies \(1 / 64\) of the room volume. When the box is opened, two identical particles are released into the room. What is the probability that at any instant after they are...
-
The burning rates of two different solid-fuel propellants used in aircrew escape systems are being studied. It is known that both propellants have approximately the same standard deviation of burning...
-
Two machines are used to fill plastic bottles with dishwashing detergent. The standard deviations of fill volume are known to be 1 = 0.10 fluid ounces and 2 = 0.15 fluid ounces for the two machines,...
-
Reconsider the situation described in Exercise 10-5. (a) Test the hypothesis that both machines fill to the same mean volume. Use a = 0.05. (b) What is the P-value of the test in part (a)? (c) If the...
-
Individual Retirement Account (IRA) Bonds Mutual fund Stocks Futures Defined contribution plans What is it? Level of Risk and Potential Return Minimum investment? Easy to start or stop?
-
1. A company purchased machinery in 2015 for $400,000. Its value in 2018 was $320,000. Assuming the resale value decreases exponentially, what will the value be in 2020? As a part of your solution,...
-
ROA of a company is 8.57%, Total assets end of the year of 2021 are $9.6 million, ROE is 14% and Profit margin of 19.9% what is the firms value of net income? and what is stockholders equity?
Study smarter with the SolutionInn App