In a previous lab we tested the following hypotheses, LaTeX: H_0 H 0 : LaTeX: mu=4.73 μ = 4.73 and LaTeX: H_a H a : LaTeX: mu<4.73 μ < 4.73 (where LaTeX: mu μ is the mean number of alcoholic drinks consumed by students at a liberal arts college).
In a random sample of 75 students, the mean was 3.93 alcoholic drinks consumed in a week. Here is the StatCrunch output from the hypothesis test.
LaTeX: mu μ : Mean of variable
LaTeX: H_0 H 0 : LaTeX: mu=4.73 μ = 4.73
LaTeX: H_A H A : LaTeX: mune4.73 μ â 4.73
Hypothesis test results
Variable Sample Mean Std. Err. DF T-Stat P-value
number of drinks per week 3.9333333 0.43592434 74 -1.8275343 0.0717Using this context and the StatCrunch output, explain the meaning of each of the following.
Std. Err (standard error)
T-stat (T-score)
P-value
In a previous matched pairs lab we tested the following hypotheses, where LaTeX: mu μ is the mean of the differences in corn yield for a plot of land (regular seed minus kiln-dried): H0: µ = 0 and Ha: µ < 0. In a random sample of 11 seeds of each type, the mean of the differences in the sample was -33.7. Here is a StatCrunch print-out of the hypothesis test.
Paired T hypothesis test:
LaTeX: mu_D=mu_1-mu_2 μ D = μ 1 â μ 2 : Mean of the difference between Regular seed and Kiln-dried seed
LaTeX: H_0 H 0 : LaTeX: mu_D=0 μ D = 0
LaTeX: H_A H A : LaTeX: mu_D<0 μ D < 0
Hypothesis test results
Difference Mean Std. Err. DF T-Stat P-value
Regular seed – Kiln-dried seed -33.727273 19.951346 10 -1.6904761 0.0609Differences stored in column, Differences.
Using this context and the StatCrunch output, explain the meaning of each of the following.
Std. Err (standard error)
T-stat (T-score)
P-value.
Sample Solution
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Technological factors are revolution in technology that may affect the operations of the industry and the market favourably or unfavourably. It also affects the decision of the company whether to enter certain industries or to launch a product (B2U â Business-to-you.com, 2019). Factors that affects the operations could be one of the few followings impact on cost production, impact on product offer and technological development. If all the technology implemented by A2 Milk benefits the company, other competitors will try to copy their ideas. All the mentioned factors are all interconnected in technology because if the innovation is popular and it affects competitors revenue, others wills try to copy the idea. These are factors that needs to be monitored at all times, causing it to be a threat. However, with technology, it will still help to generate great profit to the company and the earning can be used for research and development to enhance their profitability. Environment Environment factors has surfaced due to increasing scarcity of raw materials, pollution targets and carbon footprint targets set by governments (B2U â Business-to-you.com, 2019). In the milk industry, it is heavily dependent on the health and availability of livestock. There are several factors that could affect the livestock, such as diseases or climate change. Diseases will have impact on the cows and this will cause a decline in quality of the milk and supply if cows are being slaughtered. In addition, climate change will affect the quality of the milk cause manufacture needs to find ways to preserve the milk under the weather conditions without the milk turning bad. Also, climate will cause the production and delivery to delay. Legal Legal Factor may often be overlap with political, however it involves more specifics laws such as health and safety law or consumer protection law. Organizations should know what is legal and what is n>
