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5.Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within 15 minutes or less. If more time is required, a premium rate is charged. With a sample of 35 surveys, a population standard deviation of 4 minutes, and a level of significance of .01, the sample mean will be used to test the null hypothesis H_0: μ ≤15. What is your interpretation of the Type II error for this problem? What is its impact on the firm? What is the probability of making a Type II error when the actual mean time is μ=17 minutes? What is the probability of making a Type II error when the actual mean time is μ= 18 minutes?

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5.Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within 15 minutes or less. If more time is required, a premium rate is charged. With a sample of 35 surveys, a population standard deviation of 4 minutes, and a level of significance of .01, the sample mean will be used to test the null hypothesis H_0: μ ≤15. What is your interpretation of the Type II error for this problem? What is its impact on the firm? What is the probability of making a Type II error when the actual mean time is μ=17 minutes? What is the probability of making a Type II error when the actual mean time is μ= 18 minutes?
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