A company is considering replacing its fleet of jets with new ones, but only if they can reduce 5 days off the current 30 day delivery time. The company has purchased 5 new jets and done a sample of 15 trips. The sample mean is 22.5 days and the sample standard deviation is 3 days.
- What is the appropriate Null Hypothesis?
- What is the rejection region for a 99% confidence level, (I believe by computing the test statistic and make the appropriate recommendation ) either fail to reject null hypothesis or accept null hypothesis?
- What is the P-value associated with the test?