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Author Question: Which of the following functions is used when the rate of change in a variable increases or ... (Read 56 times)

ts19998

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on: Jun 24, 2018
Which of the following functions is used when the rate of change in a variable increases or decreases quickly and then levels out, such as with diminishing returns to scale?
 
  A) linear function
  B) exponential function
  C) power function
  D) logarithmic function

Question 2

The manufacturer of a new product claims that his product will increase output per machine by at least 38 units per hour.
 
  A line manager adopts the product on 18 of his machines, and finds that the average increase was only 35 units per hour with a standard deviation of 12.2 units. Is there evidence to doubt the manufacturer's claim at a significance level of .10?
Statistics, Data Analysis, and Decision Modeling ¦ Evans ¦ 5th Edition
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IAPPLET

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

H0 :   38 against H1 :  < 38
Test statistics t = (35 - 38 ) / (12.2/4.24 ) = -1.04
Reject H0 if t < -tn-1, = -t17,0.10 = -1.333
Since t = -1.04, we fail to reject H0 at  = 0.10. There is insufficient evidence to disprove the claim that the product will increase output per machine by 38 units per hour.


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