Answer:
The degrees of freedom are given by:

The p value for this case would be given by:
Since the p value is higher than the significance level we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true deviation is not ignificantly lower than 5 minutes
Step-by-step explanation:
Information given
represent the sample size
represent the confidence level
represent the sample variance
represent the value that we want to verify
System of hypothesis
We want to test if the true deviation for this case is lesss than 5minutes, so the system of hypothesis would be:
Null Hypothesis:
Alternative hypothesis:
The statistic is given by:
And replacing we got:
The degrees of freedom are given by:

The p value for this case would be given by:
Since the p value is higher than the significance level we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true deviation is not ignificantly lower than 5 minutes
Answer:
3
Step-by-step explanation:
The computation of the mean is shown below:
= Total sum ÷ number of observations
= (1 + 2 + 2 + 2 + 3 + 1 + 4 + 0 + 5 + 3 + 6 + 2) ÷ 12
= 31 ÷ 12
= 2.58
= 2.6
= 3
Answer:
Quantity = 59 units
Price = $111
Step-by-step explanation:
The Demand function is given by

The Marginal cost is given by

We are asked to find the quantity and price of goods.
Firstly, obtain the Marginal revenue function from the demand function
The Total revenue is given by

The Marginal revenue is the derivative of the Total revenue,

Assuming that the monopolist maximizes profits,

Therefore, the quantity is 59 units.
The price of each good is

Therefore, the price is $111.