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olganol [36]
3 years ago
10

A researcher is testing a new painkiller that claims to relieve pain in less than 15 minutes, on average. a. State the hypothese

s associated with the researcher's test. b. Describe a Type I error for this situation. c. Describe a Type II error for this situation.
Business
1 answer:
zmey [24]3 years ago
6 0

Answer:

a. H0 : U ≥ 15

   Ha : U < 15

b. Type I error is incorrectly conclude that the pain is reduced in less than 15 minutes.

c. Type II error is fail to conclude that time for pain reduction is less than 15 mints when actually its less than 15 minutes.

Explanation:

Null hypothesis is a statement that is to be tested against the alternative hypothesis and then decision is taken whether to accept or reject the null hypothesis.

Type I error is one in which we reject a true null hypothesis.

Type II error is one in which we fail to reject the null hypothesis that is actually false.

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<span>approximately $6,000 annually</span>
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Otool Incorporated is considering using stocks of an old raw material in a special project. The special project would require al
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The relevant cost of the 160 kilograms of the raw material when deciding whether to proceed with the special project  is $1,029.

<h3>Relevant cost</h3>

Using this formula

Relevant cost=(Numbers of kilogram of raw material × Discounted price per kilogram)- Delivery cost

Let plug in the formula

Relevant cost=( 160 kilograms× $6.95 per kilogram) -$83

Relevant cost=$1,112-$83

Relevant cost=$1,029

Therefore the relevant cost of the 160 kilograms of the raw material when deciding whether to proceed with the special project  is $1,029.

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7 0
2 years ago
The Rejuvo Corp. manufactures granite countertop cleaner and polish. Quarterly sales Q is a random variable with a mean of 25,00
Liono4ka [1.6K]

Answer:

Mean of total cost = $350,000

Standard deviation of total cost = $16,000

Selling price of the bottle on average should be $14

The selling price of the bottle on average should be $14.8

Explanation:

Mean of total cost =((Mean of bottle × Variable cost per unit) + Fixed cost

Mean of total cost = 25,000 × $8 per unit + $150,000

= $200,000 + $150,000

= $350,000

Standard deviation of total cost = Standard deviation × Variable cost per unit

= 2,000 × $8

= $16,000

b-1  The break even Total revenue - Total cost = 0    

So, we have given equation

25,000 × P - $350,000 = 0

25,000P = $350,000

P = $350,000 ÷ 25,000

= $14

b-2 For making profit of $20,000, the equation

Total revenue - Total cost = $20,000

25,000 × P - $350,000 = 20,000

25,000P = 20,000 + $350,000

25,000P = $370,000

P = $370,000 ÷ 25,000

= $14.8

The selling price of the bottle on average should be $14.8

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3 years ago
A purchasing consortium:
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Answer:

a. consists of two or more independent organizations that combine their requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers.

Explanation:

A purchasing consortium consists of two or more independent organizations that combine their requirements for materials, services and capital goods to gain better pricing, service and technology from suppliers. It is also known as group purchasing organization or cooperative purchasing and typically comprises of organizations sharing similar purchasing requirements or needs coming together in order to enhance their purchasing or bargaining power (capabilities) in the market.

The main purpose of a purchasing consortium is to provide a leverage for two or more independent organizations by reducing their purchasing costs when acquiring resources or materials required for the smooth operation of their business.

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Who should be involved in orientation of new employees? Why would it not be appropriate to provide employee orientation purely o
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Explanation:

because you are not sure how good they are at working

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