Question: The feasibility of constructing a profitable electricity producing windmill depends on
The feasibility of constructing a profitable electricity-producing windmill depends on the mean velocity of the wind. For a certain type of windmill, the mean would have to exceed 20 miles per hour to warrant its construction. The determination of a site’s feasibility is a two-stage process. In the first stage, readings of the wind velocity are taken and the mean is calculated. The test is designed to answer the question, “Is the site feasible?” In other words, is there sufficient evidence to conclude that the mean wind velocity exceeds 20 mph? If there is enough evidence, further testing is conducted. If there is not enough evidence, the site is removed from consideration. Discuss the consequences and potential costs of Type I and Type II errors.
Answer to relevant QuestionsThe number of potential sites for the first-stage test in Exercise 11.66 is quite large and the readings can be expensive. Accordingly, the test is conducted with a sample of 25 observations. Because the second-stage cost is ...a. Find the p-value of the following test given that x̄ = 990, n = 100, and σ = 25.H0: μ = 1000H1: μ < 1000b. Repeat part (a) with σ = 50.c. Repeat part (a) with σ = 100.d. Describe what happens to the value of the ...Redo Example 11.2 witha. n = 50b. n = 400c. Briefly describe the effect on the test statistic and the p-value when n increases.A machine that produces ball bearings is set so that the average diameter is .50 inch. A sample of 10 ball bearings was measured, with the results shown here. Assuming that the standard deviation is .05 inch can we conclude ...For the past few years, the number of customers of a drive-up bank in New York has averaged 20 per hour, with a standard deviation of 3 per hour. This year, another bank 1 mile away opened a drive-up window. The manager of ...
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