1: Scenario Script Caption: As you prepared your memo about the new \"Princess Select\" line, you discovered that the sample size that you were provided was insufficiently small. Using a larger sample of 200 customers, you conducted this research and the data is now ready for your analysis. The following results were found: 1. Sample mean for price was $46.60 with a standard deviation of $5.90 2. Proportion who would purchase the new product was 78% Mieke: You have the new data already? Great. So, like I said previously, at least 85% of the customers must express some desire for the product. The customers who are interested in the product must be willing to pay at least $47.50. Scenario Assignment Using this information, complete the following: 1. Conduct hypothesis tests for price and proportion. 2. Based on this updated data and Mieke's parameters, should the new line be marketed? Explain your answer. Question 2: Scenario Script Caption: Labor negotiations have reared their ugly head again! Princess Foods Corporation's Human Resources department is concerned about the perception of the hours worked per week at the Baltimore facility compared to hours worked at the Burlington facility. Parthika, the HR Manager has asked for your help. Parthika: The Baltimore managers claim they are working more hours than the Burlington managers, for the same compensation. We need to know if this is real, or if this is just a rumor that has taken on a life of its own. Caption: Morale at the Baltimore facility is down and the labor situation there has grown increasingly contentious. Bonnie: Let's tackle this head on. Let's take a look at the hours worked per person at each facility. Can you analyze this data? Assignment Assume a normal distribution. From the Baltimore facility, 175 samples were obtained and compared with a sample of 168 from the Burlington facility. The mean hours per week and standard deviations for middle management who had been with the organizations for approximately the same length of time were: Using this data, complete the following: 1. State your hypothesis and conduct a hypothesis testing using a significance of 0.10. 2. What is your conclusion? And why? Interpret it