Answer:
There is not sufficient evidence to warrant the rejection of the claim that the mean weight of cereal is atleast 14 oz
Step-by-step explanation:
The hypothesis for the test above will be stated as follows :
The claim to be tested is the alternative hypothesis, which is the negation of the Null hypothesis
H0 : μ < 14
H1 : μ ≥ 14
If the Null is rejected, then it means that the company's claim that the mean weight of its cereal being atleast 14 is valid ;
Then it means there is significant evidence to support the stance that the mean weight of cereal in the company's packet is atleast 14 oz.
In the first case we'd subtract 1 from both sides, obtaining |x-1|<14.
In the second case we'd also subtract 1 from both sides, and would obtain
|x-1|>14.
What would the graphs look like?
In the first case, the graph would be on the x-axis with "center" at x=1. From this center count 14 units to the right, and then place a circle around that location (which would be at x=15). Next, count 14 units to the left of this center, and place a circle around that location (which would be -13). Draw a line segment connecting the two circles. Notice that all of the solutions are between -13 and +15, not including these endpoints.
In the second case, x has to be greater than 15 or less than -13. Draw an arrow from x=1 to the left, and then draw a separate arrow from 15 to the right. None of the values in between are solutions.
Answer: $15,000
As $35,000-$20,000=$15,000.
That's basically the profit he had made, or the return on his investment (ROI).
As he already had $20,000, he had "only" made $15,000.
