Waiters at Finegold's Restaurant and Lounge earn most of their income from tips. Each waiter is required to tip-out a portion of tips to the table bussers and hostesses.
The manager has based the tip-out rate on the assumption that the mean tip is at least 15 of the customer bill. To make sure that this is the correct assumption, he has decided to conduct a test by randomly sampling 60 bills and recording the actual tips.State the appropriate null and alternative hypotheses.A) H0 : 15 Ha : < 15
B) H0 : 15 Ha : > 15
C) H0 : 9 Ha : < 9
D) H0 : 9 Ha : > 9
Question 2
Magic Valley Memorial Hospital administrators have recently received an internal audit report that indicates that 15 of all patient bills contain an error of one form or another.
After spending considerable effort to improve the hospital's billing process, the administrators are convinced that things have improved. They believe that the new error rate is somewhere closer to 0.05.Suppose that recently the hospital randomly sampled 10 patient bills and conducted a thorough study to determine whether an error exists. It found 3 bills with errors. Assuming that managers are correct that they have improved the error rate to 0.05, what is the probability that they would find 3 or more errors in a sample of 10 bills?A) 0.0115
B) 0.0233
C) 0.0884
D) 0.0766
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Philip wants to supplement his pension by $415 per month with income from his investments. His ...