cereal company claims that the mean weight of the cereal in its packets is more than 14 oz. The weights (in ounces) of the cereal in a random sample of 8 of its cereal packets have a mean weight of 14.05 oz. and a standard deviation of 0.35 oz. At the .01 significance level, test this claim. Cereal weights are known to be normally distributed. Find the null hypothesis, H0.                                     What is the test statistic?                                    What is the critical value?                                  Do you reject or fail to reject the null hypothesis (H0)?

A sample of 9 people were surveyed and asked how much money they wanted to spend on buying a new car with a mean of 30.55 and a standard deviation of 13.62 vs. how much they actually spent on buying a new car and the mean was 31.44 and a standard Deviation of 18.34. Test the claim that people spend more money than they say they want to at a 5% significance level. Assume everything is normally distributed.

A university interested in tracking its honors program believes that the proportion of graduates with a GPA of 3.00 or below is less than 0.20. In a sample of 200 graduates, 30 students have a GPA of 3.00 or below. In testing the university’s belief, how does one define the population parameter of interest?

According to Management Accounting, salary figures for certified management accountants (CMAs) who are in the field less than 1 year are normally distributed with a mean of $31,129. A random sample of 15 firstyear CMAs in Denver produces a mean salary of $32,279, with a standard deviation of $1,797. Test the hypothesis that the mean for all Denver firstyear CMAs is not equal to $31,129. Use the .05 level of significance.   1. State the null hypothesis and alternative hypothesis 2.What is the test statistic used for the test (z or t) and it’s critical value (round to 2 places) 3. Determine the p-value. And do you or do you not reject the null hypothesis?