Question: A recent study on Xaniaville University college students suggested that the mean time to complete an undergraduate degree for all students, regardless of their work schedule, was 3.5 years. Based on this study, to increase enrollment, the marketing department at Xaniaville University decided to invest $500,000 in advertising to promote to the community that if you attend Xaniaville, you will be finished in 3.5 years, or less, with your undergraduate degree.

You would like to be the future Director of the marketing department after you graduate. In order to create a good reputation for yours elf you decide to research the fact that the degree can be completed in 3.5 years because you have talked to all your friends and they have informed you that there is no possible way they could complete their degree in that time frame. You chose a sample of 233 college graduates to conduct your research. Your results revealed the mean time to complete an undergraduate degree was 3.9 years with a ' standard deviation of 2 years. At the .05 significance level, can we conclude that undergraduate students can complete an undergraduate degree in a mean of 3.5 years, or less? You have taken a statistics class and know that to determine this information you can apply the five-step hypothesis testing procedure. You gather your statistics teammates together to complete the following to present to the marketing Director, Pippi Longstocking:

Step 1. The null hypothesis and the alternate hypothesis are:

Step 2. The level of significance is:

Step 3. The test statistic is:

Step 4. The decision rule is:

Step 5. The value of the test statistic and decision regarding the hypothesis are: Your conclusion and advice to Pippi are: (be sure to address Type 1 and il errors)

Pippi thinks you are trying to steal her job so she does nothing with your advice. Your statistics teammates decide to go above her head. What recommendations would you make to the University VP of finance who is about to approve a $500,000 expense to move forward with the aforementioned marketing plan? Be prepared to share your findings with your group.

Price: $2.99

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