help with DQ questions com/350 class
March 5, 2021
The CEO of your company has asked you to prepare a written presentation to be given at the next board of directors meeting on why different types of cost information needs to be reported to support different managerial purpose and decisions.
March 5, 2021

stats

Suppose the mean cholesterol level of 20 children whose fathers died from heart disease is 190 mg/dl and the sample standard deviation is 50 mg/dl.  You hypothesize that the true population mean is 175 mg/dl, which is the cholesterol level of children whose fathers did not die from heart disease.  Since it is believed that the cholesterol level cannot be lower than this, a one-sided test is used at the 0.01 significance level.

a.   What is the probability of making a type II error?

b.  How would the sample size change if we are only will to risk a 5% chance failing to reject a false null hypothesis?

c.  How large of a sample size would be needed if we are only willing to risk a 10% chance of failing to reject a false null hypothesis?

 
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