Discuss the following:
Discuss the link between the estimate and the parameter in the context of an hypothesis test. Be sure to reference the appropriate steps of the five step process in your response, based on the steps below:
Step 1: State null and alternate hypothesis.
Step 2: Select a level of significance
Step 3: Identify the test statistic
Step 4: Formulate a decision rule
Step 5: Take a sample, arrive at decision
Q: When a robot welder is in adjustment, its mean time to perform its task is 1.325 minutes. Past experience has found the standard deviation of the cycle time to be 0.0396 minutes. An incorrect mean operating time can disrupt the efficiency of other activities along the production line. For a recent sample of 80 jobs, the mean cycle time for the welder was 1.3229 minutes. Does the machine appear to be in need of adjustment? ...