(Solved): 2. Management of an electronics company is considering a new approach to assembling its electronic ...

2. Management of an electronics company is considering a new approach to assembling its electronic sound device. The present method requires 42.3 minutes, on the average, to assemble a unit of the product. The mean assembly time for a random sample of 30 devices, using the new method, was 40.6 minutes, and the standard deviation of the sample was 4.7 minutes. Using a $10\%$ level of significance, can you conclude that the assembly time using the new method is less than the time required for the current approach? a) Set up the hypotheses using a one-sided test. b) Identify the critical values and acceptance and rejection regions on a graph. c) Evaluate the proper standardized statistic. d) State your conclusion. e) Set up the mathematical expression for the p-value for the test.