A company is developing a new high performance wax for cross country ski racing. In order to justify the price marketing
Posted: Mon Jul 11, 2022 11:29 am
A company is developing a new high performance wax for crosscountry ski racing. In order to justify the price marketing wants,the wax needs to be very fast. Specifically, the mean time tofinish their standard test course should be less than 55 secondsfor a former Olympic champion. To test it, the champion will skithe course 8 times. The champion's times (selected at random)are 54.3, 65.5, 46.3, 53.1, 43.5, 45.8, 50.1, and 41.6seconds to complete the test course. Should they market the wax?Assume the assumptions and conditions for appropriate hypothesistesting are met for the sample. Use 0.05 as the P-value cutofflevel. Find T Value Find P Value