The article “Predicting Profit Performance for Selecting Candidate International Construction Projects” (S. Han, D. Kim, and H. Kim, Journal of Construction Engineering and Management Science, 2007: 425–436) presents an analysis of the profit of inter- national construction projects. In a sample of 126 projects, the average profit margin (in percent) was 8.24 with a standard deviation of 16.33. A test is made of H0:μ≥10 versus H1:μ<10. Find the P-value. 
 Do you believe that it is plausible that the mean profit margin is at least 10%, or are you convinced that it is less than 10%? Explain your reasoning.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
  1. The article “Predicting Profit Performance for Selecting Candidate International Construction Projects” (S. Han, D. Kim, and H. Kim, Journal of Construction Engineering and Management Science, 2007: 425–436) presents an analysis of the profit of inter- national construction projects. In a sample of 126 projects, the average profit margin (in percent) was 8.24 with a standard deviation of 16.33. A test is made of H0:μ≥10 versus H1:μ<10.

    1. Find the P-value. 


    2. Do you believe that it is plausible that the mean profit margin is at least 10%, or are you

      convinced that it is less than 10%? Explain your reasoning.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman