The three methods used to classify costs into their fixed and variable components includes:_____.
a. high-low method.
b. scatter diagrams.
c. most-squares regression.
d. least-squares regression.
e. variable-fixed method.

Answers

Answer 1

Answer:

a. high-low method.

b. scatter diagrams.

d. least-squares regression.

Step-by-step explanation:

Costing is a measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

Fixed cost can be defined as predetermined expenses in a business that remain constant for a specific period of time regardless of the quantity of production or level of outputs. Some examples of fixed costs in business are loan payments, employee salary, depreciation, rent, insurance, lease, utilities etc.

On the other hand, variable costs can be defined as expenses that are not constant and as such usually change directly and are proportional to various changes in business activities. Some examples of variable costs are taxes, direct labor, sales commissions, raw materials, operational expenses etc.

In Financial accounting, the three methods used to classify costs into their fixed and variable components includes high-low method, scatter diagrams and least-squares regression.

The high-low method is a quick and easy way to estimate costs by using historical accounting information from a range of reporting periods.

A scatter diagram (scattergraph) estimate costs by considering all the data points and not just the lowest or highest point.

A least squares regression line is a standard technique in regression analysis used to make the vertical distance obtained from the data points running to the regression line to become very minimal or as small as possible.

Generally, the sum of the residuals of a least squares regression line is always equal to zero.

Answer 2

Answer:

a. high-low method.

b. scatter diagrams.

d. least-squares regression.

Step-by-step explanation:

The three methods used to classify costs into their fixed and variable components includes:

high-low method.

scatter diagrams.

least-squares regression.

Related Questions

8x=3x²-1 plz help me show your work

Answers

Answer:

Step-by-step explanation:

3 times 8= 24 • 24 = 576 - 1 =575

or

3•8=24•2=48-1=47

not sure

Answer:

The answer is [tex]x=\frac{4(+-)\sqrt{19} }{3}[/tex] in exact form or [tex]x=2.7863[/tex], [tex]x=-0.1196[/tex] in decimal form.

Step-by-step explanation:

To solve this equation, start by moving all expression to the left side of the equation, which will include subtracting [tex]3x^2[/tex] and adding 1 to both sides of the equation. The equation will look like [tex]8x-3x^2+1=0[/tex].

Then, use the quadratic formula to find the solutions to the equation. The quadratic formula looks like [tex]\frac{-b(+-)\sqrt{b^2-4ac} }{2a}[/tex].

For this problem, the quadratic variables are as follows:

[tex]a=-3\\b=8\\c=1[/tex]

The next step is to substitute the values [tex]a=-3[/tex], [tex]b=8[/tex], and [tex]c=1[/tex] into the quadratic formula and solve for x. The quadratic formula will look like [tex]\frac{-8(+-)\sqrt{8^2-4(-3)(1)} }{2*-3}[/tex]. To simplify the equation, start by simplifying the numerator, which will look like [tex]x=\frac{-8(+-)2\sqrt{19} }{2*-3}[/tex]. Then, multiply 2 by -3 and simplify the equation, which will look like [tex]x=\frac{4(+-)\sqrt{19} }{3}[/tex]. The final answer is [tex]x=\frac{4(+-)\sqrt{19} }{3}[/tex] in exact form. In decimal form, the final answer is [tex]x=2.7863[/tex], [tex]x=-0.1196[/tex].

Find an equation for the perpendicular bisector of the line segment whose endpoints are ( − 1 , − 1 ) (−1,−1) and ( 9 , 7 ) (9,7)

Answers

Answer:

Place the compass at one end of line segment.

Adjust the compass to slightly longer than half the line segment length.

Draw arcs above and below the line.

Keeping the same compass width, draw arcs from other end of line.

Place ruler where the arcs cross, and draw the line segment.

Answer:

y = - [tex]\frac{5}{4}[/tex] x + 8

Step-by-step explanation:

The perpendicular bisector intersects the line segment at its midpoint and is perpendicular to it.

Using the midpoint formula

M = ( [tex]\frac{x_{}+x_{2} }{2}[/tex], [tex]\frac{y_{1}+y_{2} }{2}[/tex] )

with (x₁, y₁ ) = (- 1, - 1) and (x₂, y₂ ) = (9, 7)

midpoint = ( [tex]\frac{-1+9}{2}[/tex], [tex]\frac{-1+7}{2}[/tex] ) = ( [tex]\frac{8}{2}[/tex], [tex]\frac{6}{2}[/tex] ) = (4, 3 )

Calculate the slope using the slope formula

m = [tex]\frac{y_{2}-y_{1} }{x_{2}-x_{1} }[/tex]

with (x₁, y₁ ) = (- 1, - 1) and (x₂, y₂ ) = (9, 7)

m = [tex]\frac{7-(-1)}{9-(-1)}[/tex] = [tex]\frac{7+1}{9+1}[/tex] = [tex]\frac{8}{10}[/tex] = [tex]\frac{4}{5}[/tex]

Given a line with slope m then the slope of a line perpendicular to it is

[tex]m_{perpendicular}[/tex] = - [tex]\frac{1}{m}[/tex] = - [tex]\frac{1}{\frac{4}{5} }[/tex] = - [tex]\frac{5}{4}[/tex] , then

y = - [tex]\frac{5}{4}[/tex] x + c ← is the partial equation

To find c substitute (4, 3) into the partial equation

3 = - 5 + c ⇒ c = 3 + 5 = 8

y = - [tex]\frac{5}{4}[/tex] x + 8 ← equation of perpendicular bisector

At basketball practice, you made 59 out of 80 shots.

Which choice is closest to the percentage of shots you mad

Answers

Answer:

73.5 Percent ...........

Answer:

The closest percentage of shots you made is 75%. Please mark brainliest.

I believe the choices are:

60%

70%

75%

80%

Therefore the answer 75%

Step-by-step explanation:

59/80 = 0.7375

Rounded up is 0.75

0.75 x 100 = 75%

Hope this helps.

Have a nice day amazing person there.

MAY GOD RICHLY BLESS YOU!!

Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 27 dollars and a standard deviation of 9 dollars.
A. What proportion of the bank's Visa cardholders pay more than 29 dollars in interest?
B. What proportion of the bank's Visa cardholders pay more than 35 dollars in interest?
C. What proportion of the bank's Visa cardholders pay less than 14 dollars in interest?
D. What interest payment is exceeded by only 18% of the bank's Visa cardholders?

Answers

Answer:

a. 0.4129 = 41.29% of the bank's Visa cardholders pay more than 29 dollars in interest.

b. 0.1867 = 18.67% of the bank's Visa cardholders pay more than 35 dollars in interest.

c. 0.0742 = 7.42% of the bank's Visa cardholders pay less than 14 dollars in interest.

d. An interest payment of $35.2 is exceeded by only 18% of the bank's Visa cardholders.

Step-by-step explanation:

Normal Probability Distribution

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Mean of 27 dollars and a standard deviation of 9 dollars.

This means that [tex]\mu = 27, \sigma = 9[/tex]

A. What proportion of the bank's Visa cardholders pay more than 29 dollars in interest?

This is 1 subtracted by the p-value of Z when X = 29, so:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{29 - 27}{9}[/tex]

[tex]Z = 0.22[/tex]

[tex]Z = 0.22[/tex] has a p-value of 0.5871.

1 - 0.5871 = 0.4129

0.4129 = 41.29% of the bank's Visa cardholders pay more than 29 dollars in interest.

B. What proportion of the bank's Visa cardholders pay more than 35 dollars in interest?

This is 1 subtracted by the p-value of Z when X = 35, so:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{35 - 27}{9}[/tex]

[tex]Z = 0.89[/tex]

[tex]Z = 0.89[/tex] has a p-value of 0.8133.

1 - 0.8133 = 0.1867

0.1867 = 18.67% of the bank's Visa cardholders pay more than 35 dollars in interest.

C. What proportion of the bank's Visa cardholders pay less than 14 dollars in interest?

This is the p-value of Z when X = 14. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{14 - 27}{9}[/tex]

[tex]Z = -1.445[/tex]

[tex]Z = -1.445[/tex] has a p-value of 0.0742.

0.0742 = 7.42% of the bank's Visa cardholders pay less than 14 dollars in interest.

D. What interest payment is exceeded by only 18% of the bank's Visa cardholders?

This is the 100 - 18 = 82nd percentile, which is X when Z has a p-value of 0.82, so X when Z = 0.915.

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]0.915 = \frac{X - 27}{9}[/tex]

[tex]X - 27 = 0.915*9[/tex]

[tex]X = 35.2[/tex]

An interest payment of $35.2 is exceeded by only 18% of the bank's Visa cardholders.

ch of the following collections are w A collection of first six even number A collection of tall girls of class X. A collection of good football player A collection of wild animals. A collection of days of a week. he symbols e or €: {a, e, i, o, u}​

Answers

Pls Tell question corretly

evaluate the function f(x)=4x^2-7x+7 find f(7)​

please I need the answer soon!

Answers

9514 1404 393

Answer:

  f(7) = 154

Step-by-step explanation:

The basic idea is you put 7 where x is and do the arithmetic.

Polynomial evaluation is sometimes easier if you rewrite it to Horner form.

  f(x) = (4x -7)x +7

  f(7) = (4·7 -7)(7) +7 = 21(7) +7 = 147 +7

  f(7) = 154

In the arithmetic sequence -7, -6, -5 what term is 2?

The term 2 is the ___th term of the sequence

Answers

Answer:

10th term

Step-by-step explanation:

The equation of the arithmetic sequence is an=-7+(n-1)*1=-8+n, plugging in 2 and solving for n we have

2=-8+n, n=10

ulwazi's Father offered to pay for Ani's wedding ring, which cost R1349 excluding 14%VAT calculate the selling price ​

Answers

9514 1404 393

Answer:

  ₹1537.86

Step-by-step explanation:

With the 14% tax added, the final cost is ...

  ₹1349 × (1 +14%) = ₹1349×1.14 = ₹1537.86

point k is between j and l. if jk = x^2 - 4x , kl = 3x - 2 and jl = 28 write and solve an equation to find the lengths of jk and kl

Answers

Answer:

JK=12

KI=16

Step-by-step explanation:

[tex]K\in\ [JI]\ \Rightarrow\ |JK|+| KI |=|KI|\\\\x^2-4x+3x-2=28\\\\\Longleftrightarrow\ x^2-x-30=0\\\\\\\Longleftrightarrow\ x^2+5x-6x-30=0\\\\\\\Longleftrightarrow\ x(x+5)-6(x+5)=0\\\\\\\Longleftrightarrow\ (x+5)(x-6)=0\\\\x=-5\ (excluded)\ or\x=6\\\\\\\Longleftrightarrow\ \\|JK|=x^2-4x=6^2-4*6=36-24=12\\|KI|=3x-2=3*6-2=18-2=16\\\\Proof: 12+16=28\\[/tex]

Evaluate the expression: y – y ÷ 1 + x Use x = 7 and y = 3

Answers

Hi ;-)

[tex]x=7 \ and \ y=3\\\\y-y:1+x=3-3:1+7=3-3+7=0+7=\boxed7[/tex]

Find the missing side length image below

Answers

Answer:

40

Step-by-step explanation:

Based on the Proportional Transversal Theorem, the three parallel lines hat intersects the two transversals, divides the transversal lines proportionally.

Therefore, we would have the following ratio:

28/35 = ?/50

Cross multiply

35*? = 50*28

35*? = 1,400

Divide both sides by 35

? = 1400/35

? = 40

The expression is 3 (x+4)-(2x+7) what is that equivalent too

Answers

Answer:

x+19

Step-by-step explanation:

3x+12 - 2x+7 = x+19

Answer:

x-19

Step-by-step explanation:

expand the brackets

3x+12-2x-7

3x-2x-12-7

x-19

Which of the following behaviors would best describe someone who is listening and paying attention? a) Leaning toward the speaker O b) Interrupting the speaker to share their opinion c) Avoiding eye contact d) Asking questions to make sure they understand what's being said

Answers

Answer:

D

Step-by-step explanation:

If you ask questions while their speaking it shows that you are paying attention to them. Avoiding eye contact could mean your thinking about something else or you aren't interested. Interrupting them is just being disrespectful. Leaning towards them doesn't really do anything other than you moving.

Which best describes the relationship between the line that passes through the points (8, 2) and (3,
5) and the line that passes through the points (-3,-7) and (0, -12)?

Answers

Answer:

C

Step-by-step explanation:

They are neither perpendicular nor parallel since line 1 has slope=-3/5 and line 2 has slope=-5/3. They are neither equal nor have a product equal to - 1.

In​ 1990, the average math SAT score for students at one school was 498. Five years​ later, a teacher wants to perform a hypothesis test to determine whether the average SAT score of students at the school has changed from the 1990 mean of 498.
The hypotheses are shown below. Identify the Type II error.
H0​:μ=498
Ha​:μ≠498
A. Fail to reject the claim that the average math SAT score is 498 when in fact it is not 498.
B. Reject the claim that the average math SAT score is 498 when in fact it is not 498.
C. Reject the claim that the average math SAT score is 498 when in fact it is 498.
D. Fail to reject the claim that the average math SAT score is 498 when in fact it is 498.

Answers

Answer:

A. Fail to reject the claim that the average math SAT score is 498 when in fact it is not 498.

Step-by-step explanation:

Type II Error:

A type II error happens when there is a non-rejection of a false null hypothesis.

In this question:

The null hypothesis is H0​:μ=498.

Since there is a type II error, there was a failure to reject the claim that the average math SAT score is 498 when in fact it is not 498, and thus, the correct answer is given by option A.

can someone help me, please?

Answers

Answer:

0

2

-1

Step-by-step explanation:

from f(0) we find that

y = mx - 1

from f(-1) we find that the equation is

y = -3x - 1

1)

inverse f(x) :

x = -3y - 1

y = -(x + 1) / 3           x = -1

y = -(-1 + 1) / 3

y = 0

2)

y also equal to 0 since x = -1

3)

f^-1(2) = -(2+1) / 3

          = -3/3

          = -1

f(-1) =  2

According to Fidelity Investment Vision Magazine, the average weekly allowance of children varies directly as their grade level. In a recent year, the average allowance of a 9th-grade student was 9.66 dollars per week. What was the average weekly allowance of a 5 th-grade student?​

Answers

The average weekly allowance of a 5th grade student as calculated using direct variation with the information provided by Fidelity Investment Vision Magazine is 5.367 dollars per week.

The question given is a direct variation problem:

Let:

Average weekly allowance = [tex]a[/tex]

• Grade level = [tex]g[/tex]

If Average weekly allowance varies directly as grade level , then , then the direct variation between the variables can be expressed as :

[tex]a = k * g[/tex]

Where ,  [tex]k[/tex] = constant of proportionality

We can obtain the value of k from the given values of a and g

[tex]9.66 = k * 9\\9.66 = 9k\\k = 9.66/9[/tex]

Our equation becomes:

[tex]a = (9.66/9) * g[/tex]

[tex]a = (9.66/9) * 5\\a = 5.367[/tex] (rounded to 3 decimal places)

Hence, using proportional relationship, the average weekly allowance for a 5th grade student is [tex]5.367[/tex] per week

Learn more about direct variation here:

https://brainly.com/question/17257139

These two cones are similar. What is the value of x?

Answers

Answer:

A

Step-by-step explanation:

Given that the cones are similar then corresponding dimensions are in proportion, that is

[tex]\frac{12}{2}[/tex] = [tex]\frac{3}{x}[/tex] ( cross- multiply )

12x = 6 ( divide both sides by 12 )

x = 0.5 → A

Leonard made some muffins. He gave 5/8 of them to his grandmother and 10 muffins to his aunt. He then had 11 muffins left. How many muffins did he have at first? ​

Answers

Answer:

56

Step-by-step explanation:

x = number of muffins in total at the beginning.

x - 5/8 x - 10 = 11

x - 5/8 x = 21

8/8 x - 5/8 x = 21

3/8 x = 21

3x = 168

x = 56

what is the sum of √-2and√-18

Answers

For this question, we need to simplify some radicals and combine like terms. One thing for sure that should be noticed is the fact that both of these radicals are going to be imaginary, as they both have negatives inside of them.

Let's simplify the radicals:

√-2 =                   ← Note the negative

i√2

√-18 =                  ← Note the negative here as well

i√18 =

i√2·3·3 =

i√2·3² =

3i√2

Now, all we have to do is combine like terms:

i√2 + 3i√2 = 4i√2

Solve the equation. If there is no solution, select no solution.

Answers

Answer:

no solution to the question

Answer:

4 2/3

Step-by-step explanation:

The two-step equation is solved regularly. The answer is 4 2/3.

Compare the functions shown below:



f(x) = 7x + 3 g(x) tangent function with y intercept at 0, 2 h(x) = 2 sin(3x + π) − 1

Answers

F(x) has the greatest y-intercept=3

The least-squares regression equation
y = 968 – 3.34x can be used to predict the amount of monthly interest paid on a loan after x months. Suppose the amount of monthly interest after 30 months was $865.93.

What is the residual for the amount of monthly interest paid on a loan after 30 months?

–202.27
–1.87
1.87
202.27

Answers

Answer:

-1.87 (B)

865.93 - [968-3.34(30)] = -1.87

ED2021

Find the difference: -18 - (-18)

Answers

Answer:

0

Step-by-step explanation:

-18-(-18)

= -18+18 [(+) + (+)=(+)]

=0 [(-) + (-)=(-)]

Determine the sum of the measures of the exterior angles of a convex hexagon (6-sided polygon).

A. 540
B. 720
C. 1,080
D. 360

Answers

9514 1404 393

Answer:

  (d)  360°

Step-by-step explanation:

The sum of exterior angles of any convex polygon is 360°.

Find the value of this expression

Answers

Answer:

[tex] \frac{(3) ^{2} + 3}{3 - 1} [/tex]

[tex] \frac{9 + 3}{3 - 1} [/tex]

[tex] \frac{12}{2} [/tex]

= 6

Answer: 6

Replace the x with 3

3^2

=3x3

=9

9+3=

3-1=2


(12/2) =( 6/1)

= 6

e/22 = 6/15, What does e equal? Please answer with work!

Answers

Answer:

e = 44/5 = 8.800

Step-by-step explanation:

Rearrange the equation by subtracting what is to the right of the equal sign from both sides of the equation :

                    e/22-(6/15)=0

Step by step solution :

STEP

1

:

           2

Simplify   —

           5

Equation at the end of step

1

:

  e    2

 —— -  —  = 0

 22    5

STEP

2

:

            e

Simplify   ——

           22

Equation at the end of step

2

:

  e    2

 —— -  —  = 0

 22    5

STEP

3

:

Calculating the Least Common Multiple :

3.1    Find the Least Common Multiple

     The left denominator is :       22

     The right denominator is :       5

       Number of times each prime factor

       appears in the factorization of:

Prime

Factor   Left

Denominator   Right

Denominator   L.C.M = Max

{Left,Right}

2 1 0 1

11 1 0 1

5 0 1 1

Product of all

Prime Factors  22 5 110

     Least Common Multiple:

     110

Calculating Multipliers :

3.2    Calculate multipliers for the two fractions

   Denote the Least Common Multiple by  L.C.M

   Denote the Left Multiplier by  Left_M

   Denote the Right Multiplier by  Right_M

   Denote the Left Deniminator by  L_Deno

   Denote the Right Multiplier by  R_Deno

  Left_M = L.C.M / L_Deno = 5

  Right_M = L.C.M / R_Deno = 22

Making Equivalent Fractions :

3.3      Rewrite the two fractions into equivalent fractions

Two fractions are called equivalent if they have the same numeric value.

For example :  1/2   and  2/4  are equivalent,  y/(y+1)2   and  (y2+y)/(y+1)3  are equivalent as well.

To calculate equivalent fraction , multiply the Numerator of each fraction, by its respective Multiplier.

  L. Mult. • L. Num.      e • 5

  ——————————————————  =   —————

        L.C.M              110

  R. Mult. • R. Num.      2 • 22

  ——————————————————  =   ——————

        L.C.M              110  

Adding fractions that have a common denominator :

3.4       Adding up the two equivalent fractions

Add the two equivalent fractions which now have a common denominator

Combine the numerators together, put the sum or difference over the common denominator then reduce to lowest terms if possible:

e • 5 - (2 • 22)     5e - 44

————————————————  =  ———————

      110              110  

Equation at the end of step

3

:

 5e - 44

 ———————  = 0

   110  

STEP

4

:

When a fraction equals zero :

4.1    When a fraction equals zero ...

Where a fraction equals zero, its numerator, the part which is above the fraction line, must equal zero.

Now,to get rid of the denominator, Tiger multiplys both sides of the equation by the denominator.

Here's how:

 5e-44

 ————— • 110 = 0 • 110

  110

Now, on the left hand side, the  110  cancels out the denominator, while, on the right hand side, zero times anything is still zero.

The equation now takes the shape :

  5e-44  = 0

Solving a Single Variable Equation:

4.2      Solve  :    5e-44 = 0

Add  44  to both sides of the equation :

                     5e = 44

Divide both sides of the equation by 5:

                    e = 44/5 = 8.800

One solution was found :

e = 44/5 = 8.800

Answer:

e =44/5

Step-by-step explanation:

e          6

----- = --------

22         15

Using cross products

e * 15 = 6 *22

15e = 132

Divide by 15

15e/15 = 132/15

e =44/5

Find the missing side length in the image below

Answers

Answer:

? = 5

Step-by-step explanation:

Recall: when 2 transversal lines cuts across 3 parallel lines, the parallel lines are divided proportionally by the transversals.

Therefore:

?/10 = 3/6

Cross multiply

?*6 = 3*10

?*6 = 30

Divide both sides by 6

? = 30/6

? = 5

Regina has 3 bags of marbles. There are 25 marbles in each bag. She wants to put an equal number of marbles into 5 bags. Which expression would show how many marbles can go in each bag?

Answers

Answer:

(3 × 25)/5 marbles can go in each bag

Explanation:

Number of bags Regina has = 3

Number of marbles in each bag = 25

So, total number of marbles = 3 × 25

Number of marbles in each bag, if divided equally into 5 bags = (3 × 25)/5

Further:

Solving the expression,

(3 × 25)/5

= 75/5

= 15

So, the each bag has 15 marbles if they are equally divided into 5 bags.

Answer:

(25 x 3) / 5

Step-by-step explanation:

you have to do 25 x 3 to get the total amount of marbles. Then you have to divide that by the amount of bags.

An automobile manufacturer has given its jeep a 51.3 miles/gallon (MPG) rating. An independent testing firm has been contracted to test the actual MPG for this jeep since it is believed that the jeep has an incorrect manufacturer's MPG rating. After testing 230 jeeps, they found a mean MPG of 51.1. Assume the population variance is known to be 6.25. A level of significance of 0.02 will be used. Make the decision to reject or fail to reject the null hypothesis.

Answers

Answer:

The p-value of the test is 0.2262 > 0.02, which means that the decision is to fail to reject the null hypothesis.

Step-by-step explanation:

An automobile manufacturer has given its jeep a 51.3 miles/gallon (MPG) rating.

At the null hypothesis, we test if the mean is of 51.3, that is:

[tex]H_0: \mu = 51.3[/tex]

An independent testing firm has been contracted to test the actual MPG for this jeep since it is believed that the jeep has an incorrect manufacturer's MPG rating.

This means that at the alternative hypothesis, we test if the mean is different of 51.3, that is:

[tex]H_0: \mu \neq 51.3[/tex]

The test statistic is:

[tex]z = \frac{X - \mu}{\frac{\sigma}{\sqrt{n}}}[/tex]

In which X is the sample mean, [tex]\mu[/tex] is the value tested at the null hypothesis, [tex]\sigma[/tex] is the standard deviation and n is the size of the sample.

51.3 is tested at the null hypothesis:

This means that [tex]\mu = 51.3[/tex]

After testing 230 jeeps, they found a mean MPG of 51.1. Assume the population variance is known to be 6.25.

This means that [tex]n = 230, X = 51.1, \sigma = \sqrt{6.25} = 2.5[/tex]

Value of the test statistic:

[tex]z = \frac{X - \mu}{\frac{\sigma}{\sqrt{n}}}[/tex]

[tex]z = \frac{51.1 - 51.3}{\frac{2.5}{\sqrt{230}}}[/tex]

[tex]z = -1.21[/tex]

P-value of the test and decision:

The p-value of the test is the probability of the sample mean differing from 51.1 by at least 0.2, which is P(|z| > 1.21), which is 2 multiplied by the p-value of z = -1.21.

Looking at the z-table, z = -1.21 has a p-value of 0.1131.

2*0.1131 = 0.2262

The p-value of the test is 0.2262 > 0.02, which means that the decision is to fail to reject the null hypothesis.

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