Managers of an industrial plant want to determine which of two types of fued, 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 fued, gas or electic, 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 15 plants using electricity, which had a mean cost per unit of $58.1 and standard deviation of $8.18, and 13 plants using gas, which had a mean of $49.1 and standard devlation of $8.42. 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 dfference u,, between the mean cost per unit for plants using electricity, , and the mean cost per unit for plants usng gas, . Then complete the table below. Carry your intermediate computations to at least three deamal places. Round your responses to at least two decimal places. (1f necessary, consult a tist of tormulas.) What is the lower limit of the 90% confidence interval What is the upper limit of the 90% confidence lienterval? 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 plants using electricity and plants using gas. These samples consisted of 15 plants using electricity, which had a mean cost per unit of $58.1 and standard deviation of $8.18, and 13 plants using gas, which had a mean of $49.1 and standard devlation of $8.42. 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 dfference u,, between the mean cost per unit for plants using electricity, , and the mean cost per unit for plants usng gas, . Then complete the table below. Carry your intermediate computations to at least three deamal places. Round your responses to at least two decimal places. (1f necessary, consult a tist of tormulas.) What is the lower limit of the 90% confidence interval What is the upper limit of the 90% confidence lienterval?
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
-
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...
-
The managers of a chemical manufacturing plant want to determine whether recent safety training workshops have reduced the weekly number of reported safety violations at the facility. The management...
-
Independent random samples were taken of male and female clients of University Entrepreneurship Centers. These clients were considering starting a business. Of 94 male clients, 53 actually started a...
-
A close company which prepares accounts to 31 March each year is owned and managed by a single shareholder/director who is not a Scottish taxpayer and who is paid a salary of 5,000 per month. In...
-
Determine the mass of each substance. a. F2 b. CO c. CO2
-
Imamu works for a law firm in downtown Chicago as a senior manager. He takes the train for his commute into the city and pays for a monthly train pass of \($350.\) The firm reimburses Imamu \($350.\)...
-
The suitable pump for flood control and irrigation applications is (a) reciprocating (b) centrifugal (c) axial flow (d) mixed flow
-
The T-accounts below summarize the ledger of Santana Landscaping Company at the end of its first month of operations. Instructions (a) Prepare the complete general journal (including explanations)...
-
In your own opinion, what makes the filed of Applied Behavior Analysis different from other approaches to understanding and changing human behavior?
-
Walgreen Company is a well-known drugstore chain. A condensed balance sheet for August 31, 2011, follows ($ in millions): Use a format similar to Exhibit to analyze the following transactions for the...
-
Let f be a continuous function on the interval [a, b] and suppose that a c b. Then, f(x) dx = [ f(x) dx + [ f(x) dx. a (17)
-
Profit sharing could mean that in a good year, employees get bonuses, or it could refer to the companys contributions to an employee retirement plan. True or False
-
The following trial balance was extracted from the books of Old NV on 31 December 2021. (a) Provide for: (i) An audit fee of 38,000. (ii) Depreciation of plant at 20% straight-line. (iii)...
-
Internal recruiting means an open position will be filled by friends or family first. True or False
-
Employment at will means workers have increased job security. True or False
-
Performance management is one alternative to a traditional performance appraisal. Which style of evaluation would you prefer as an employee? Which would be more useful to you as a manager?
-
2. Universal Basic Income (UBI) is a policy proposal in which everyone receives an income necessary to live from the government. Consider two policy proposals: 1) A minimum wage of $7.50/hr and a...
-
Flicker, Inc., a closely held corporation, acquired a passive activity this year. Gross income from operations of the activity was $160,000. Operating expenses, not including depreciation, were...
-
A sample of 33 accounting students recorded the number of hours spent studying the course material during the week before the final exam. The data are stored in the data file Study. a. Compute the...
-
Use the model for the one-way analysis of variance for the data of Exercise 15.12. a. Estimate b. Estimate Gi for each of the three magazines. c. Estimate e13, the error term corresponding to the...
-
A large corporation organized a ballot for all its workers on a new bonus plan. It was found that 65% of all night-shift workers favored the plan and that 40% of all female workers favored the plan....
-
Which forecasting technique is more qualitative, the Delphi method or linear regression?
-
A road-paving crew required 8 hours to repave a 3-mile stretch of road, using \($5,000\) in materials. The crew consisted of three workers who each earn \($25\) an hour. Calculate a multifactor...
-
An automobile assembly plant produced 600 cars during a 5-day workweek. It then produced 500 cars the following week, although it only operated 4 days due to a national holiday. During which week was...
Study smarter with the SolutionInn App