Managers of an industrial plant want to determine which of two types of fuel, gas or...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Managers of an industrial plant want to determine which of two types of fuel, gas or electric, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of plants using electricity and plants using gas. These samples consisted of 13 plants using electriaty, which had a mean cost per unit of $55.8 and standard deviation of $7.77, and 14 plants using gas, which had a mean of $44 and standard deviation of $8.25. Assume that the populations of costs per unit are normally distributed for each type of fuel, and assume that the variances of these populations are equal. Construct a 90% confidence interval for the difference u,-H, between the mean cost per unit for plants using electricity, 1, and the mean cost per unit for plants using gas, lg. Then complete the table below. Carry your intermediate computations to at least three decimal places. Round your responses to at least two decimal places. (If necessary, consult a list of formulas.) What is the lower limit of the 90% confidence interval? What is the upper limit of the 90% confidence interval? Managers of an industrial plant want to determine which of two types of fuel, gas or electric, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of plants using electricity and plants using gas. These samples consisted of 13 plants using electriaty, which had a mean cost per unit of $55.8 and standard deviation of $7.77, and 14 plants using gas, which had a mean of $44 and standard deviation of $8.25. Assume that the populations of costs per unit are normally distributed for each type of fuel, and assume that the variances of these populations are equal. Construct a 90% confidence interval for the difference u,-H, between the mean cost per unit for plants using electricity, 1, and the mean cost per unit for plants using gas, lg. Then complete the table below. Carry your intermediate computations to at least three decimal places. Round your responses to at least two decimal places. (If necessary, consult a list of formulas.) What is the lower limit of the 90% confidence interval? What is the upper limit of the 90% confidence interval?
Expert Answer:
Related Book For
Statistics for Business and Economics
ISBN: 978-0132930192
8th edition
Authors: Paul Newbold, William Carlson, Betty Thorne
Posted Date:
Students also viewed these mathematics questions
-
Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. (If necessary, consult a The null hypothesis: H : The alternative hypothesis:...
-
Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. (If necessary, consult a list of formulas. The null hypothesis: The alternative...
-
Managers of an industrial plant want to determine which of two types of fued, gas or electic, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of...
-
Canton Company makes two types of cell phones. Handy is a thin, pocket-size cell phone that is easy to carry around. Action is a palm-size phone convenient to hold while the user is talking. During...
-
Ozone decomposes to oxygen gas. 2O3(g) 3O2(g) A proposed mechanism for this decomposition is What is the rate law derived from this mechanism? O3 2 + O (fast, equilibrium) slow)
-
Given the displacement curve shown in Figure 16. 26 for a bead at \(x=0\) on a string as a wave moving toward the right with a speed of \(2.0 \mathrm{~m} / \mathrm{s}\) passes, draw the wave function...
-
Water flows out through a set of thin, closely spaced blades as shown in Fig. P5.4 with a speed of \(V=10 \mathrm{ft} / \mathrm{s}\) around the entire circumference of the outlet. Determine the mass...
-
Highway Construction Incorporated (HCI) bought a large piece of construction equipment at the beginning of 20X5. The construction equipment was a large piece of heavy equipment with an original cost...
-
Some commonly occurring quantities. All of the quantities that follow will occur frequently in your study of physics. (a) Expressthe speed of light (3.00 108 m/s) in mi/s and mi/h. (b) Find the speed...
-
If Tescos managers asked your advice on whether or not to reenter the U.S. market, what would you say?
-
4. You observe the following quotes for the USD/AUD in the spot market from two banks: Bank of Sydney Bid Bank of New York Ask 0.71715 Ask Bid 0.71708 0.71711 0.71715 Do these quotes imply the...
-
Is risk-neutrality an appropriate assumption for benefitcost analysis? Why or why not? Does it seem more appropriate for some environmental problems than others? If so, which ones? If you were...
-
Certain environmental laws prohibit EPA from considering the costs of meeting various standards when the levels of the standards are set. Is this a good example of putting first things first or...
-
What is e-business? (Section 25.7) Data from section 25.7 This section gives a very brief summary of some aspects of e-business and shows how management accounting has a role to play in e-business....
-
Explain how the structure of the statement of cash flows represents another subsection of the accounting equation. (Section 3.6) Data from section 3.6 It was shown in Chapter 1 that liquidity is of...
-
The group makes full provision for the future cost of decommissioning oil and natural gas production facilities and related pipelines on a discounted basis on the installation of those facilities....
-
Which do you consider to be the most important of the 8 millennium development goals and why? Have the MDGs achieved their goals so far? Why or why not?
-
SBS Company have received a contract to supply its product to a Health Care Service Hospital. The sales involve supplying 1,250 units every quarter, the sales price is RM 85 per unit. The Client...
-
Consider the joint probability distribution: a. Compute the marginal probability distributions for X and Y. b. Compute the covariance and correlation for X and Y. c. Compute the mean and variance for...
-
How large a sample is needed to estimate the population proportion for each of the following? a. ME = 0.05; = 0.01 b. ME = 0.05; = 0.10 c. Compare and comment on your answers to parts a and b.
-
Subscribers to a local newspaper were asked whether they regularly, occasionally, or never read the business section and also whether they had traded common stocks (or shares in a mutual fund) over...
-
Use the code given earlier for R to make this plot. The command would be plot(percentage)
-
Why would you not feel comfortable computing a Pearson correlation on the data in Exercise 9.10? Exercise 9.10 Down syndrome is another problem that psychologists deal with. It has been proposed that...
-
In Exercise 9.1 the percentage of mothers over 40 does not appear to be important, and yet it is a risk factor in other societies. Why do you think that this might be? Exercise 9.1 In Sub-Saharan...
Study smarter with the SolutionInn App