Problems
1. A random sample of 100 recorded deaths in the US during the past year showed an average life span of 71.8 years. Assuming a population standard deviation of 8.9 years, does this seem to indicate that the mean life span today is greater than 70 years? Use a 0.05 level of significance.
2. A Psychologist claims that the mean age at which children start walking is 12.5 months. Carol wanted to check if this claim is true. She took a random sample of 18 children and found that the mean age at which these children started walking was 12.9 months with a standard deviation of 0.8 month. Using the 1% significant level, can you conclude that the mean age at which all children start walking is different from 12.5 months? Assume that the ages at which all children start walking have an approximately normal distribution.
3. A manufacturer estimates that when x units of a particular commodity are produced, the total cost will be dollars, and furthermore, that all x units will be sold when the price is dollars per unit.