Answer:
2.65
Step-by-step explanation:
Multiply each payout by its probability, then add those products.
See the attached image.
The first column has the payouts. The second column has the probabilities. The third column has the results of multiplying a payout by its probability.
The sum of the entries in the third column is 2.65
Answer:
Null Hypothesis, :
250 W
Alternate Hypothesis, :
> 250 W
Step-by-step explanation:
We are given that an appliance manufacturer claims to have developed a compact microwave oven that consumes a mean of no more than 250 W.
They take a sample of 20 microwave ovens and find that they consume a mean of 257.3 W.
<u><em>Let </em></u><u><em> = mean power consumption of microwave ovens.</em></u>
So, Null Hypothesis, :
250 W
Alternate Hypothesis, :
> 250 W
Here, <u>null hypothesis states tha</u>t the mean power consumption of microwave ovens is no more than 250 W.
On the other hand, <u>alternate hypothesis sates that</u> the mean power consumption of microwave ovens is more than 250 W.
The test statistics that would be used here is <u>One-sample z test statistics</u> as we know about the population standard deviation;
T.S. = ~ N(0,1)
Hence, this would be the appropriate hypotheses to determine if the manufacturer's claim appears reasonable.